Semtech Corporation $SMTC Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lessened its position in Semtech Corporation (NASDAQ:SMTC) by 19.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,220 shares of the semiconductor company’s stock after selling 6,410 shares during the period. Semtech accounts for 1.3% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 27th biggest position. Lisanti Capital Growth LLC’s holdings in Semtech were worth $4,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Andar Capital Management HK Ltd purchased a new position in Semtech during the 2nd quarter valued at about $162,000,000. BlackRock Inc. purchased a new stake in Semtech in the 2nd quarter worth approximately $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 worth $136,298,000 after buying an additional 672,447 shares during the period. Jennison Associates LLC grew its position in shares of Semtech by 15.6% in the 1st quarter. Jennison Associates LLC now owns 744,380 shares of the semiconductor company’s stock worth $57,235,000 after buying an additional 100,552 shares during the last quarter. Finally, Atreides Management LP bought a new stake in shares of Semtech in the 2nd quarter worth approximately $89,214,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SMTC. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Semtech in a research note on Wednesday, August 26th. Northland Securities raised Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 price target for the company in a research note on Friday, October 16th. New Street Research set a $230.00 price target on shares of Semtech in a report on Thursday, August 20th. Robert W. Baird lifted their price target on shares of Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Finally, Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Semtech Stock Performance

Semtech stock opened at $125.22 on Thursday. Semtech Corporation has a fifty-two week low of $60.28 and a fifty-two week high of $201.99. The stock’s 50 day simple moving average is $154.33 and its two-hundred day simple moving average is $126.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 82.93 and a beta of 2.50.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The business’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, analysts expect that Semtech Corporation will post 2.80 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Semtech news, CEO Hong Q. Hou sold 2,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $138.71, for a total value of $277,420.00. Following the completion of the transaction, the chief executive officer owned 60,799 shares in the company, valued at approximately $8,433,429.29. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 967 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $178.87, for a total value of $172,967.29. Following the transaction, the chief financial officer directly owned 35,999 shares of the company’s stock, valued at $6,439,141.13. This represents a 2.62% decrease in their position. 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. Insiders sold 14,237 shares of company stock valued at $2,337,597 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

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.