Jennison Associates LLC Increases Stock Position in Semtech Corporation $SMTC

Jennison Associates LLC increased its holdings in Semtech Corporation (NASDAQ:SMTC) by 15.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744,380 shares of the semiconductor company’s stock after acquiring an additional 100,552 shares during the quarter. Jennison Associates LLC’s holdings in Semtech were worth $57,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMTC. Think Investments LP acquired a new stake in Semtech during the 3rd quarter worth $58,618,000. Ameriprise Financial Inc. increased its stake in Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares during the period. Atreides Management LP purchased a new stake in shares of Semtech in the second quarter valued at about $29,880,000. Assenagon Asset Management S.A. raised its holdings in shares of Semtech by 323.0% in the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock valued at $60,051,000 after buying an additional 596,373 shares during the last quarter. Finally, Capital International Investors acquired a new stake in shares of Semtech during the fourth quarter worth about $39,593,000.

Analyst Ratings Changes

SMTC has been the topic of a number of research reports. Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Mizuho set a $225.00 price objective on Semtech in a research note on Wednesday, May 27th. Benchmark increased their price objective on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Stifel Nicolaus increased their price objective on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating 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 stock a “buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.07.

Semtech Stock Performance

NASDAQ:SMTC opened at $124.96 on Monday. Semtech Corporation has a 1 year low of $46.02 and a 1 year high of $177.35. 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 fifty day moving average price of $149.47 and a two-hundred day moving average price of $108.71. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of -320.41 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate 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 $291.02 million for the quarter, compared to analyst estimates of $283.53 million. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In related news, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the transaction, the chief executive officer owned 64,799 shares in the company, valued at $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 22,734 shares of company stock valued at $3,256,056. 0.48% of the stock is owned by company insiders.

About Semtech

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.