Engineers Gate Manager LP Boosts Stock Position in Semtech Corporation $SMTC

Engineers Gate Manager LP increased its holdings in Semtech Corporation (NASDAQ:SMTC) by 450.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,129 shares of the semiconductor company’s stock after buying an additional 47,569 shares during the quarter. Engineers Gate Manager LP owned about 0.06% of Semtech worth $9,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ABS Investment Management LLC acquired a new stake in shares of Semtech in the second quarter worth $178,035,000. FNY Investment Advisers LLC lifted its position in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Semtech in the second quarter valued at $32,000. Allworth Financial LP purchased a new stake in Semtech in the second quarter valued at $55,000. Finally, Allied Private Wealth LLC acquired a new stake in Semtech during the 2nd quarter worth about $65,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Susquehanna boosted their price target on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. Morgan Stanley upped their price objective on Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 26th. Mizuho set a $225.00 price objective on shares of Semtech in a research note on Wednesday, May 27th. Finally, Zacks Research cut shares of Semtech from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus target price of $204.71.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares of the company’s stock, valued at $12,378,963.60. This represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julie Ruehl sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $145.00, for a total value of $217,500.00. Following the transaction, the director owned 7,140 shares of the company’s stock, valued at $1,035,300. This trade represents a 17.36% 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. Insiders sold a total of 23,234 shares of company stock worth $3,304,706 in the last three months. 0.44% of the stock is owned by corporate insiders.

Semtech Stock Performance

NASDAQ SMTC opened at $159.13 on Friday. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 105.38 and a beta of 2.35. Semtech Corporation has a twelve month low of $57.50 and a twelve month high of $177.35. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $133.22 and a 200 day moving average of $123.06.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The company had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. During the same period last year, the company earned $0.41 earnings per share. Semtech’s quarterly revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Sell-side analysts anticipate that Semtech Corporation will post 2.64 EPS for the current fiscal year.

Semtech Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.