Persistent Asset Partners Ltd Makes New $3.54 Million Investment in Semtech Corporation $SMTC

Persistent Asset Partners Ltd bought a new stake in Semtech Corporation (NASDAQ:SMTC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,849 shares of the semiconductor company’s stock, valued at approximately $3,536,000. Semtech accounts for about 1.1% of Persistent Asset Partners Ltd’s portfolio, making the stock its 18th largest holding.

Several other institutional investors also recently made changes to their positions in the stock. Andar Capital Management HK Ltd acquired a new position in Semtech during the 2nd quarter valued at approximately $162,000,000. Vanguard Group Inc. increased its position in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after buying an additional 298,987 shares during the period. Ameriprise Financial Inc. increased its position in Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares during the period. State Street Corp lifted its stake in Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares during the last quarter. Finally, Whale Rock Capital Management LLC boosted its holdings in shares of Semtech by 11.3% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after acquiring an additional 396,504 shares during the period.

Insider Activity at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the sale, the chief executive officer owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This trade represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,234 shares of company stock worth $3,203,091 in the last quarter. Company insiders own 0.44% of the company’s stock.

Semtech Stock Performance

Semtech stock opened at $140.35 on Monday. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The stock has a market capitalization of $13.07 billion, a PE ratio of -359.87 and a beta of 2.35. The firm has a 50 day simple moving average of $140.61 and a 200-day simple moving average of $115.88.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities research analysts expect that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on SMTC shares. Northland Securities lowered shares of Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. TD Cowen lifted their price objective on shares of Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Benchmark boosted their target price on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Stifel Nicolaus upped their target price on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, UBS Group raised their price target on shares of Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.07.

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.