Semtech Corporation $SMTC Stock: Jefferies Financial Group Inc. Raises Position

Jefferies Financial Group Inc. boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 961.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 91,288 shares of the semiconductor company’s stock after buying an additional 82,687 shares during the period. Jefferies Financial Group Inc.’s holdings in Semtech were worth $16,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SMTC. Andar Capital Management HK Ltd bought a new position in Semtech in the 2nd quarter worth about $162,000,000. BlackRock Inc. purchased a new stake in shares of Semtech in the 2nd quarter valued at about $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Semtech by 396.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock valued at $136,298,000 after acquiring an additional 672,447 shares in the last quarter. Atreides Management LP bought a new stake in shares of Semtech during the 2nd quarter valued at about $89,214,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Semtech during the 2nd quarter valued at about $87,725,000.

Semtech Price Performance

Shares of Semtech stock opened at $125.22 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $11.69 billion, a PE ratio of 82.93 and a beta of 2.50. The business’s 50-day moving average price is $154.33 and its 200-day moving average price is $126.12. Semtech Corporation has a 12 month low of $60.28 and a 12 month high of $201.99.

Semtech (NASDAQ:SMTC) last announced 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. The company had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%. Semtech’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Sell-side analysts forecast that Semtech Corporation will post 2.80 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction on Friday, September 4th. The shares were sold at an average price of $138.71, for a total value of $277,420.00. Following the transaction, the chief executive officer owned 60,799 shares in the company, valued at $8,433,429.29. This trade represents a 3.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Semtech stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $877,965.00. The SEC filing for this sale provides additional information. Insiders have sold 14,237 shares of company stock valued at $2,337,597 over the last 90 days. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SMTC shares. Weiss Ratings cut shares of Semtech from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Morgan Stanley set a $205.00 target price on shares of Semtech in a research note on Friday, October 16th. UBS Group lifted their target price on shares of Semtech from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Seaport Research Partners assumed coverage on shares of Semtech in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $200.00 price target for the company. Finally, Robert W. Baird increased their price target on shares of Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Semtech Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems. The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.