Geode Capital Management LLC Has $154.70 Million Position in Semtech Corporation $SMTC

Geode Capital Management LLC increased its position in Semtech Corporation (NASDAQ:SMTC) by 0.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,099,033 shares of the semiconductor company’s stock after acquiring an additional 6,715 shares during the period. Geode Capital Management LLC’s holdings in Semtech were worth $154,704,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 acquiring an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. grew its position in Semtech by 3.7% in the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after acquiring an additional 261,647 shares in the last quarter. Capital Research Global Investors grew its position in Semtech by 13.9% in the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after acquiring an additional 571,372 shares in the last quarter. State Street Corp grew its position in Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after acquiring an additional 60,788 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Semtech by 8.7% in the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after acquiring an additional 289,313 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer set a $200.00 target price on shares of Semtech in a research report on Wednesday, May 27th. UBS Group boosted their target price on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. TD Cowen reissued a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Susquehanna boosted their target price on shares of Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Finally, Benchmark boosted their target price on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Thirteen research analysts have rated the stock with 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $179.73.

Semtech Trading Down 1.9%

NASDAQ:SMTC opened at $163.50 on Thursday. Semtech Corporation has a 12 month low of $37.03 and a 12 month high of $172.35. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of -419.23 and a beta of 2.32. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average is $113.76 and its 200-day moving average is $91.29.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company had revenue of $291.00 million for the quarter, compared to analyst estimates of $283.53 million. During the same quarter last year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities analysts anticipate that Semtech Corporation will post 1.6 EPS for the current year.

Insider Buying and Selling

In other news, CFO Mark Lin sold 9,186 shares of Semtech stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total value of $689,409.30. Following the transaction, the chief financial officer owned 32,710 shares of the company’s stock, valued at $2,454,885.50. This trade represents a 21.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $90.11, for a total transaction of $180,220.00. Following the completion of the transaction, the chief executive officer directly owned 73,228 shares in the company, valued at approximately $6,598,575.08. This represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 36,884 shares of company stock valued at $3,069,245. 0.48% of the stock is owned by corporate insiders.

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.