TimesSquare Capital Management LLC Invests $5.45 Million in Semtech Corporation $SMTC

TimesSquare Capital Management LLC purchased a new stake in Semtech Corporation (NASDAQ:SMTC) in the second quarter, HoldingsChannel reports. The firm purchased 33,693 shares of the semiconductor company’s stock, valued at approximately $5,453,000.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 2,565 shares during the last quarter. Empowered Funds LLC increased its stake in Semtech by 11.5% in the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Semtech by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after purchasing an additional 22,629 shares during the period. Strs Ohio acquired a new stake in Semtech in the first quarter worth $65,000. Finally, Cetera Investment Advisers bought a new position in shares of Semtech during the second quarter worth $226,000.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 970 shares of Semtech stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the sale, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total transaction of $82,495.00. Following the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is owned by insiders.

Semtech Price Performance

Shares of SMTC opened at $154.22 on Tuesday. The stock has a market capitalization of $14.37 billion, a P/E ratio of -395.44 and a beta of 2.35. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. The company has a 50 day moving average of $140.52 and a 200-day moving average of $116.40. 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 (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Oppenheimer set a $200.00 price target on shares of Semtech in a report on Wednesday, May 27th. Susquehanna lifted their target price on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 target price on shares of Semtech in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Semtech in a report on Thursday, June 18th. Finally, Citigroup lowered Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.07.

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.