Semtech Corporation $SMTC Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its position in Semtech Corporation (NASDAQ:SMTC) by 8.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 116,061 shares of the semiconductor company’s stock after buying an additional 8,986 shares during the period. First Trust Advisors LP’s holdings in Semtech were worth $8,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Think Investments LP purchased a new position in Semtech during the 3rd quarter worth $58,618,000. Ameriprise Financial Inc. boosted its holdings in shares of Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after acquiring an additional 666,456 shares in the last quarter. Atreides Management LP acquired a new position in shares of Semtech during the second quarter worth about $29,880,000. Assenagon Asset Management S.A. increased its stake in shares of Semtech by 323.0% during the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock worth $60,051,000 after acquiring an additional 596,373 shares during the period. Finally, Capital International Investors purchased a new position in Semtech during the fourth quarter worth about $39,593,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Robert W. Baird increased their target price on Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Benchmark raised their price target on Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.07.

Semtech Stock Up 2.8%

Shares of NASDAQ SMTC opened at $117.82 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 52 week low of $46.02 and a 52 week high of $177.35. The firm has a 50-day moving average price of $146.16 and a 200 day moving average price of $111.86. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of -302.10 and a beta of 2.31.

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

Insider Activity at Semtech

In related news, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the transaction, the chief financial officer directly owned 34,896 shares of the company’s stock, valued at $5,248,707.36. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total value of $82,495.00. Following the transaction, the director directly owned 28,100 shares of the company’s stock, valued at approximately $4,636,219. This represents a 1.75% 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. In the last 90 days, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is currently owned by company 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.