Semtech Corporation $SMTC Shares Sold by Clearline Capital LP

Clearline Capital LP lessened its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 59.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 285,967 shares of the semiconductor company’s stock after selling 412,968 shares during the period. Semtech accounts for about 1.0% of Clearline Capital LP’s holdings, making the stock its 20th biggest holding. Clearline Capital LP’s holdings in Semtech were worth $21,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SMTC. Jones Financial Companies Lllp increased its stake 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 acquiring an additional 2,565 shares during the period. Empowered Funds LLC increased its stake 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 acquiring an additional 968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Semtech by 5.8% in 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 worth $14,166,000 after buying an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in Semtech in the first quarter worth approximately $65,000. Finally, Cetera Investment Advisers acquired a new position in Semtech in the second quarter worth approximately $226,000.

Semtech Stock Down 7.0%

SMTC stock opened at $150.20 on Thursday. The company’s 50 day moving average price is $130.31 and its 200 day moving average price is $97.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. Semtech Corporation has a fifty-two week low of $40.24 and a fifty-two week high of $177.35. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of -385.13 and a beta of 2.32.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million for 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 business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities research analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the transaction, the director directly owned 23,279 shares of the company’s stock, valued at $3,217,390.59. The trade was a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 974 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total value of $76,381.08. Following the sale, the chief financial officer owned 33,343 shares in the company, valued at approximately $2,614,758.06. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 25,160 shares of company stock valued at $2,227,705. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SMTC. Roth Mkm lifted their price target on shares of Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Craig Hallum lifted their price target on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Morgan Stanley lifted their price target on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. UBS Group lifted their price target on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Oppenheimer set a $200.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.73.

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.