Semtech Corporation $SMTC Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Raises Stake

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Semtech Corporation (NASDAQ:SMTC) by 41.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,139 shares of the semiconductor company’s stock after purchasing an additional 8,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Semtech were worth $5,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in Semtech during the 3rd quarter valued at about $270,000. North Dakota State Investment Board increased its stake in Semtech by 3.8% during the 3rd quarter. North Dakota State Investment Board now owns 2,838 shares of the semiconductor company’s stock valued at $506,000 after purchasing an additional 105 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in Semtech in the third quarter worth about $225,000. Oppenheimer & Co. Inc. raised its holdings in Semtech by 202.2% in the third quarter. Oppenheimer & Co. Inc. now owns 3,898 shares of the semiconductor company’s stock worth $695,000 after buying an additional 2,608 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Semtech in the third quarter worth approximately $361,000.

Insider Transactions at Semtech

In other Semtech news, EVP Jason Elliot Green sold 2,766 shares of the stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total value of $526,508.10. Following the transaction, the executive vice president owned 7,367 shares of the company’s stock, valued at approximately $1,402,308.45. This represents a 27.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho C. Cardenuto sold 5,321 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,237 shares of company stock worth $2,337,597. Company insiders own 0.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SMTC shares. Morgan Stanley set a $205.00 price target on shares of Semtech in a report on Friday, October 16th. BMO Capital Markets boosted their price objective on shares of Semtech from $155.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Roth Capital set a $220.00 price objective on Semtech in a research report on Wednesday, August 26th. Benchmark reiterated a “buy” rating on shares of Semtech in a research note on Thursday, August 20th. Finally, New Street Research set a $230.00 target price on Semtech in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.11.

Semtech Price Performance

SMTC opened at $127.38 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $157.16 and a 200-day moving average price of $124.68. Semtech Corporation has a twelve month low of $60.28 and a twelve month high of $201.99. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 84.36 and a beta of 2.50.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts forecast that Semtech Corporation will post 2.80 earnings per share for the current year.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.