Legal & General Group Plc Decreases Position in Semtech Corporation $SMTC

Legal & General Group Plc cut its position in Semtech Corporation (NASDAQ:SMTC) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 216,333 shares of the semiconductor company’s stock after selling 11,118 shares during the period. Legal & General Group Plc owned approximately 0.23% of Semtech worth $15,942,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of Semtech by 12,214.3% during the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after purchasing an additional 2,565 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock valued at $14,166,000 after purchasing an additional 22,629 shares during the last quarter. Strs Ohio purchased a new position in shares of Semtech during the first quarter valued at approximately $65,000. Finally, Cetera Investment Advisers purchased a new position in shares of Semtech during the second quarter valued at approximately $226,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SMTC shares. Susquehanna boosted their price objective on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. TD Cowen reissued a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Oppenheimer set a $200.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Mizuho set a $225.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Finally, Robert W. Baird boosted their price objective on shares of Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average target price of $179.73.

Insider Activity at Semtech

In related news, Director Martin Burvill sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares in the company, valued at approximately $392,312.82. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Lin sold 974 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total transaction of $76,381.08. Following the completion of the transaction, the chief financial officer owned 33,343 shares of the company’s stock, valued at approximately $2,614,758.06. The trade was a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,884 shares of company stock valued at $3,069,245 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $149.58 on Tuesday. The firm has a 50 day moving average of $110.16 and a 200 day moving average of $89.95. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of -383.54 and a beta of 2.32. Semtech Corporation has a 12-month low of $36.10 and a 12-month high of $172.35.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $291.00 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts anticipate that Semtech Corporation will post 1.6 earnings per share for the current year.

Semtech Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.