Castleark Management LLC Acquires 4,800 Shares of Semtech Corporation $SMTC

Castleark Management LLC increased its holdings in Semtech Corporation (NASDAQ:SMTC) by 4.7% in the first quarter, Holdings Channel.com reports. The firm owned 107,758 shares of the semiconductor company’s stock after acquiring an additional 4,800 shares during the period. Castleark Management LLC’s holdings in Semtech were worth $8,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SMTC. Banque Cantonale Vaudoise bought a new stake in Semtech in the first quarter worth $33,000. IFP Advisors Inc bought a new position in shares of Semtech during the fourth quarter valued at about $53,000. Smartleaf Asset Management LLC grew its stake in shares of Semtech by 24.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 247 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Semtech in the fourth quarter worth about $60,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Semtech by 1,215.4% in the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $61,000 after buying an additional 790 shares during the period.

Insider Transactions at Semtech

In other news, EVP Jason Elliot Green sold 2,264 shares of Semtech stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the sale, the executive vice president owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the transaction, the chief financial officer owned 34,896 shares in the company, valued at $5,248,707.36. This represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SMTC. Roth Capital increased their target price on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. UBS Group lifted 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. Robert W. Baird boosted their price objective on Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Semtech in a research note on Monday, July 13th. Finally, Northland Securities cut shares of Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $189.07.

Semtech Price Performance

SMTC opened at $125.92 on Monday. 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 market capitalization of $11.73 billion, a PE ratio of -322.87 and a beta of 2.31. The stock’s 50 day moving average price is $149.03 and its 200-day moving average price is $110.78. Semtech Corporation has a 52-week low of $46.02 and a 52-week high of $177.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million during 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 firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities research analysts predict that Semtech Corporation will post 1.81 EPS for the current year.

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.