Maxi Investments CY Ltd Purchases Shares of 9,100 Semtech Corporation $SMTC

Maxi Investments CY Ltd purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,100 shares of the semiconductor company’s stock, valued at approximately $1,473,000.

A number of other hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp grew its stake in shares of Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 2,565 shares during the last quarter. Empowered Funds LLC increased its holdings in Semtech by 11.5% in the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Semtech by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after purchasing an additional 22,629 shares during the last quarter. Strs Ohio bought a new position in Semtech during the 1st quarter worth $65,000. Finally, Cetera Investment Advisers acquired a new position in Semtech during the 2nd quarter worth about $226,000.

Semtech Stock Performance

NASDAQ SMTC opened at $124.09 on Monday. The stock has a market capitalization of $11.56 billion, a P/E ratio of -318.18 and a beta of 2.35. The business has a 50 day simple moving average of $137.87 and a 200 day simple moving average of $117.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. Semtech Corporation has a one year low of $49.04 and a one year high of $177.35.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million for 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 company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts expect that Semtech Corporation will post 1.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Roth Capital 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. UBS Group lifted their price objective on Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Stifel Nicolaus upped their price objective on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price objective on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Finally, BMO Capital Markets initiated coverage on shares of Semtech in a research note on Thursday. They set an “outperform” rating and a $155.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.47.

Insider Activity at Semtech

In related news, insider John Michael Wilson sold 5,500 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total transaction of $935,000.00. Following the transaction, the insider directly owned 80,876 shares of the company’s stock, valued at $13,748,920. This represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Asaf Silberstein sold 8,500 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at $12,378,963.60. The trade was a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,734 shares of company stock worth $3,133,986 over the last ninety days. 0.44% 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.