Invesco Ltd. Cuts Stock Position in Semtech Corporation $SMTC

Invesco Ltd. trimmed its position in shares of Semtech Corporation (NASDAQ:SMTC) by 21.3% in the second quarter, HoldingsChannel.com reports. The fund owned 1,416,780 shares of the semiconductor company’s stock after selling 383,394 shares during the period. Invesco Ltd.’s holdings in Semtech were worth $63,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SMTC. US Bancorp DE boosted its stake in shares of Semtech by 7.6% in the first quarter. US Bancorp DE now owns 11,137 shares of the semiconductor company’s stock valued at $383,000 after purchasing an additional 787 shares during the period. PNC Financial Services Group Inc. increased its stake in Semtech by 164.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,192 shares of the semiconductor company’s stock worth $419,000 after buying an additional 7,583 shares during the period. Vanguard Group Inc. lifted its holdings in Semtech by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company’s stock worth $402,560,000 after buying an additional 159,770 shares in the last quarter. Deutsche Bank AG boosted its position in Semtech by 168.1% in the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock valued at $41,627,000 after buying an additional 758,642 shares during the period. Finally, Swiss National Bank grew its stake in shares of Semtech by 0.5% in the first quarter. Swiss National Bank now owns 166,900 shares of the semiconductor company’s stock worth $5,741,000 after acquiring an additional 900 shares in the last quarter.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $79.44 on Thursday. The stock’s 50-day simple moving average is $70.16 and its 200-day simple moving average is $57.41. The firm has a market capitalization of $7.35 billion, a PE ratio of 256.26 and a beta of 2.01. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $81.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $266.97 million for the quarter, compared to analyst estimates of $266.36 million. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, equities research analysts forecast that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director directly owned 6,909 shares of the company’s stock, valued at $433,539.75. The trade was a 33.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total transaction of $33,120.00. Following the completion of the transaction, the director owned 26,779 shares of the company’s stock, valued at $1,773,840.96. This represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,971 shares of company stock worth $323,463 in the last ninety days. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SMTC has been the topic of several analyst reports. Robert W. Baird increased their price objective on Semtech from $70.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $81.00 price target on shares of Semtech in a research report on Tuesday, November 25th. Cowen assumed coverage on Semtech in a research note on Tuesday, September 30th. They issued a “buy” rating for the company. UBS Group restated a “buy” rating on shares of Semtech in a research note on Tuesday, November 25th. Finally, Northland Securities lifted their price target on shares of Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.71.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.