Atreides Management LP Has $50.96 Million Holdings in Semtech Corporation $SMTC

Atreides Management LP grew its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 691,591 shares of the semiconductor company’s stock after purchasing an additional 13,458 shares during the period. Atreides Management LP’s holdings in Semtech were worth $50,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of Semtech by 65.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 235 shares during the period. Assetmark Inc. lifted its holdings in shares of Semtech by 1,745.5% during the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 576 shares during the period. IFP Advisors Inc bought a new stake in shares of Semtech during the 4th quarter worth approximately $53,000. Huntington National Bank lifted its holdings in shares of Semtech by 151.3% during the 3rd quarter. Huntington National Bank now owns 749 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 451 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Semtech by 24.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 247 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SMTC. TD Cowen reaffirmed a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Needham & Company LLC upped their price target on shares of Semtech from $105.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a report on Wednesday, May 27th. Roth Mkm upped their price target on shares of Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Benchmark upped their price target on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Semtech has an average rating of “Moderate Buy” and a consensus target price of $179.73.

Insiders Place Their Bets

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total value of $69,105.00. Following the completion of the transaction, the director owned 23,279 shares of the company’s stock, valued at $3,217,390.59. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the transaction, the executive vice president directly owned 8,811 shares of the company’s stock, valued at $720,123.03. The trade was a 45.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,160 shares of company stock worth $2,227,705 over the last 90 days. Insiders own 0.48% of the company’s stock.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $150.20 on Thursday. The company has a market cap of $13.99 billion, a price-to-earnings ratio of -385.13 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The firm has a 50 day simple moving average of $130.31 and a 200 day simple moving average of $97.88. Semtech Corporation has a one year low of $40.24 and a one year high of $177.35.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate 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 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 quarter in the prior year, the firm earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Semtech Company 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.