Virtus Advisers LLC Makes New $714,000 Investment in Semtech Corporation $SMTC

Virtus Advisers LLC bought a new position in Semtech Corporation (NASDAQ:SMTC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,413 shares of the semiconductor company’s stock, valued at approximately $714,000.

A number of other institutional investors also recently modified their holdings of the business. Leonteq Securities AG lifted its position in shares of Semtech by 11.2% during the first quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 118 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Semtech by 2.3% during the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 136 shares during the period. Stephens Inc. AR lifted its holdings in Semtech by 3.3% during the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock worth $325,000 after purchasing an additional 142 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Semtech by 0.8% during the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock worth $1,422,000 after purchasing an additional 162 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Semtech by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 177 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Craig Hallum upped their target price on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. TD Cowen increased their target price on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Robert W. Baird raised their price target on shares of Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.47.

Insiders Place Their Bets

In other news, COO Asaf Silberstein sold 8,500 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the transaction, the chief operating officer directly owned 96,862 shares in the company, valued at approximately $12,378,963.60. This represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the transaction, the insider directly owned 80,876 shares in the company, valued at approximately $13,748,920. This represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,734 shares of company stock valued at $3,133,986 over the last quarter. Insiders own 0.44% of the company’s stock.

Semtech Stock Down 0.4%

SMTC stock opened at $124.88 on Friday. The company’s 50 day moving average is $138.72 and its 200 day moving average is $117.40. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of -320.21 and a beta of 2.35. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 1-year low of $47.50 and a 1-year high of $177.35.

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 business had revenue of $291.02 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%. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. 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. Sell-side analysts predict that Semtech Corporation will post 1.81 EPS for the current fiscal 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.