Harbor Capital Advisors Inc. Sells 259,274 Shares of Semtech Corporation $SMTC

Harbor Capital Advisors Inc. lowered its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 86.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,185 shares of the semiconductor company’s stock after selling 259,274 shares during the period. Harbor Capital Advisors Inc.’s holdings in Semtech were worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after buying an additional 666,456 shares in the last quarter. State Street Corp grew 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 acquiring an additional 60,788 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Semtech by 9.8% during the second quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after acquiring an additional 294,990 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Semtech by 4.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,894,536 shares of the semiconductor company’s stock worth $130,659,000 after purchasing an additional 115,921 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Semtech by 107.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company’s stock worth $124,011,000 after purchasing an additional 1,424,909 shares in the last quarter.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 971 shares of Semtech stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $72.83, for a total value of $70,717.93. Following the sale, the chief financial officer owned 17,844 shares of the company’s stock, valued at approximately $1,299,578.52. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $71.61, for a total transaction of $35,805.00. Following the completion of the transaction, the director owned 25,779 shares in the company, valued at approximately $1,846,034.19. The trade was a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,971 shares of company stock worth $139,643 over the last quarter. Company insiders own 0.48% of the company’s stock.

Semtech Trading Down 0.4%

Shares of SMTC stock opened at $75.57 on Thursday. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $81.32. The company has a 50-day simple moving average of $70.93 and a two-hundred day simple moving average of $59.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 243.77 and a beta of 2.01.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SMTC. Piper Sandler restated an “overweight” rating and set a $95.00 price target (up previously from $70.00) on shares of Semtech in a research note on Thursday, December 11th. UBS Group reissued a “buy” rating on shares of Semtech in a research report on Tuesday, November 25th. Roth Capital raised their price target on shares of Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Oppenheimer reiterated an “outperform” rating and set a $81.00 price target on shares of Semtech in a research note on Tuesday, November 25th. Finally, Benchmark increased their price objective on Semtech from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.50.

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.