18,552 Semtech Corporation $SMTC Shares Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC raised its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 84.9% in the third quarter, Holdings Channel reports. The institutional investor owned 40,396 shares of the semiconductor company’s stock after buying an additional 18,552 shares during the quarter. Semtech accounts for about 2.9% of Summit Creek Advisors LLC’s portfolio, making the stock its 4th biggest holding. Summit Creek Advisors LLC’s holdings in Semtech were worth $7,205,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Semtech in the second quarter valued at approximately $1,577,947,000. ABS Investment Management LLC bought a new position in Semtech during the second quarter worth $178,035,000. Andar Capital Management HK Ltd bought a new position in Semtech during the second quarter worth $162,000,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Semtech by 396.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock valued at $136,298,000 after purchasing an additional 672,447 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Semtech by 56.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 546,422 shares of the semiconductor company’s stock valued at $97,454,000 after purchasing an additional 196,734 shares during the last quarter.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $103.21 on Friday. The business has a fifty day simple moving average of $155.15 and a 200 day simple moving average of $125.55. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 68.35 and a beta of 2.50. Semtech Corporation has a one year low of $60.28 and a one year high of $201.99.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The firm had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.67 million. During the same period last year, the business earned $0.41 earnings per share. Semtech’s quarterly revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Sell-side analysts expect that Semtech Corporation will post 2.80 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMTC. Wall Street Zen raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Morgan Stanley set a $205.00 price objective on shares of Semtech in a report on Friday, October 16th. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Semtech in a report on Wednesday, August 26th. Benchmark reaffirmed a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Finally, Northland Securities upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 target price for the company in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $213.11.

Insider Buying and Selling

In other news, Director Julie Ruehl sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $145.00, for a total transaction of $217,500.00. Following the completion of the transaction, the director directly owned 7,140 shares of the company’s stock, valued at approximately $1,035,300. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho Cardenuto sold 5,321 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $877,965.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 14,237 shares of company stock worth $2,337,597. Insiders own 0.44% of the company’s stock.

About Semtech

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.

The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.