Castleark Management LLC Raises Holdings in Semtech Corporation $SMTC

Castleark Management LLC increased its position in shares of Semtech Corporation (NASDAQ:SMTC) by 85.0% in the 4th quarter, Holdings Channel reports. The firm owned 102,958 shares of the semiconductor company’s stock after purchasing an additional 47,318 shares during the period. Castleark Management LLC’s holdings in Semtech were worth $7,587,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC increased its position in shares of Semtech by 2.3% during the fourth quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 136 shares in the last quarter. Stephens Inc. AR increased its position in shares of Semtech by 3.3% during the fourth 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. Journey Strategic Wealth LLC grew its position in shares of Semtech by 3.2% in the third quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 159 shares in the last quarter. AlphaQuest LLC grew its position in shares of Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 173 shares in the last quarter. Finally, Archer Investment Corp grew its position in shares of Semtech by 7.3% in the fourth quarter. Archer Investment Corp now owns 2,683 shares of the semiconductor company’s stock valued at $198,000 after purchasing an additional 182 shares in the last quarter.

Semtech Trading Up 1.9%

Shares of Semtech stock opened at $166.71 on Friday. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of -427.46 and a beta of 2.32. Semtech Corporation has a fifty-two week low of $39.07 and a fifty-two week high of $172.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The stock has a 50 day moving average of $125.55 and a 200 day moving average of $95.81.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SMTC shares. TD Cowen restated a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Roth Mkm upped their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Needham & Company LLC upped their price target on Semtech from $105.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price target on Semtech in a research report on Wednesday, May 27th. Finally, UBS Group upped their price target on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $179.73.

Insider Buying and Selling

In related news, CFO Mark Lin sold 9,186 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $75.05, for a total value of $689,409.30. Following the completion of the transaction, the chief financial officer directly owned 32,710 shares in the company, valued at approximately $2,454,885.50. This represents a 21.93% 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, EVP Jason Elliot Green sold 7,500 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the completion of the transaction, the executive vice president owned 8,811 shares of the company’s stock, valued at $720,123.03. The trade was a 45.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,660 shares of company stock valued at $2,268,140 in the last ninety days. Company insiders own 0.48% of the company’s stock.

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.