NorthCrest Asset Manangement LLC Has $1.19 Million Position in Semtech Corporation $SMTC

NorthCrest Asset Manangement LLC increased its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 69.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,790 shares of the semiconductor company’s stock after acquiring an additional 6,906 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Semtech were worth $1,191,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in shares of Semtech during the third quarter valued at about $41,000. Bessemer Group Inc. increased its position in Semtech by 78.4% in the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 287 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Semtech in the 2nd quarter valued at about $33,000. First Horizon Corp acquired a new position in Semtech during the 3rd quarter worth approximately $61,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Semtech by 24.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 247 shares in the last quarter.

Semtech Trading Down 0.7%

Shares of Semtech stock opened at $76.99 on Wednesday. The company has a market capitalization of $7.12 billion, a P/E ratio of 248.35 and a beta of 2.01. The stock has a fifty day simple moving average of $73.56 and a 200 day simple moving average of $64.48. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $81.39. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.87.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $266.97 million for the quarter, compared to analysts’ expectations of $266.36 million. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. On average, sell-side analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In related news, insider John Michael Wilson sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $75.12, for a total transaction of $375,600.00. Following the transaction, the insider directly owned 60,066 shares in the company, valued at approximately $4,512,157.92. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the 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 sale, the director owned 25,779 shares of the company’s stock, valued at approximately $1,846,034.19. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,467 shares of company stock valued at $861,983 in the last quarter. 0.48% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on SMTC shares. B. Riley boosted their price objective on Semtech from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Cowen started coverage on Semtech in a report on Tuesday, September 30th. They issued a “buy” rating on the stock. Susquehanna lifted their price target on shares of Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a research report on Tuesday, November 18th. Roth Capital upped their price objective on shares of Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Finally, Morgan Stanley set a $67.00 price objective on shares of Semtech in a research note on Tuesday, November 25th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $79.21.

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.