Kornitzer Capital Management Inc. KS Purchases Shares of 54,115 Semtech Corporation $SMTC

Kornitzer Capital Management Inc. KS purchased a new stake in Semtech Corporation (NASDAQ:SMTC) during the 1st quarter, Holdings Channel reports. The firm purchased 54,115 shares of the semiconductor company’s stock, valued at approximately $4,161,000.

A number of other hedge funds have also modified their holdings of SMTC. Vanguard Group Inc. raised its position in shares of Semtech by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after buying an additional 261,647 shares in the last quarter. State Street Corp grew its holdings in Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after buying an additional 396,504 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Semtech by 8.7% during the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after buying an additional 289,313 shares in the last quarter.

Semtech Trading Down 1.0%

Shares of Semtech stock traded down $1.37 during trading hours on Friday, reaching $136.13. 2,701,707 shares of the company’s stock were exchanged, compared to its average volume of 4,258,080. Semtech Corporation has a 52-week low of $46.02 and a 52-week high of $177.35. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -349.05 and a beta of 2.31. The company has a fifty day moving average of $147.85 and a 200-day moving average of $106.50. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Susquehanna upped their price objective on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Northland Securities cut Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. B. Riley Financial boosted their target price on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Roth Capital upped their target price on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, UBS Group raised their price target on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Insider Transactions at Semtech

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the transaction, the director directly owned 28,100 shares in the company, valued at $4,636,219. This represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the sale, the insider directly owned 80,876 shares in the company, valued at $13,748,920. This represents a 6.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,734 shares of company stock worth $2,990,056 in the last quarter. 0.48% of the stock is currently owned by corporate 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.