Retirement Systems of Alabama Buys 21,904 Shares of Semtech Corporation $SMTC

Retirement Systems of Alabama boosted its position in Semtech Corporation (NASDAQ:SMTC) by 21.6% during the third quarter, Holdings Channel reports. The fund owned 123,360 shares of the semiconductor company’s stock after acquiring an additional 21,904 shares during the period. Retirement Systems of Alabama’s holdings in Semtech were worth $22,001,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Andar Capital Management HK Ltd bought a new stake in Semtech during the second quarter worth about $162,000,000. BlackRock Inc. purchased a new position in shares of Semtech in the 2nd quarter worth about $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Semtech by 396.3% in 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 worth $136,298,000 after purchasing an additional 672,447 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Semtech by 15.6% in the 1st quarter. Jennison Associates LLC now owns 744,380 shares of the semiconductor company’s stock worth $57,235,000 after purchasing an additional 100,552 shares in the last quarter. Finally, Atreides Management LP bought a new position in shares of Semtech during the 2nd quarter valued at about $89,214,000.

Semtech Stock Up 10.3%

Shares of NASDAQ:SMTC opened at $125.22 on Thursday. The stock’s 50-day moving average price is $154.33 and its 200-day moving average price is $126.12. Semtech Corporation has a 12-month low of $60.28 and a 12-month high of $201.99. The stock has a market capitalization of $11.69 billion, a P/E ratio of 82.93 and a beta of 2.50. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, equities analysts anticipate that Semtech Corporation will post 2.80 earnings per share for the current year.

Insider Buying and Selling at Semtech

In related news, CEO Hong Hou sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $138.71, for a total transaction of $277,420.00. Following the transaction, the chief executive officer directly owned 60,799 shares in the company, valued at $8,433,429.29. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 967 shares of Semtech stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total value of $172,967.29. Following the completion of the transaction, the chief financial officer directly owned 35,999 shares in the company, valued at $6,439,141.13. This trade represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,237 shares of company stock worth $2,337,597 over the last quarter. Company insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SMTC shares. Seaport Research Partners started coverage on Semtech in a research report on Tuesday, September 22nd. They set a “buy” rating and a $200.00 price objective on the stock. DA Davidson set a $230.00 target price on Semtech in a research report on Friday, October 16th. Northland Securities raised 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. Morgan Stanley set a $205.00 price objective on shares of Semtech in a report on Friday, October 16th. Finally, BMO Capital Markets upped their price objective on shares of Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Semtech Profile

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.