Edgestream Partners L.P. Has $2.45 Million Position in Semtech Corporation $SMTC

Edgestream Partners L.P. cut its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 16.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 54,374 shares of the semiconductor company’s stock after selling 10,736 shares during the period. Edgestream Partners L.P.’s holdings in Semtech were worth $2,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new position in shares of Semtech in the second quarter valued at approximately $4,230,000. EFG Asset Management North America Corp. grew its holdings in Semtech by 15.6% during the 2nd quarter. EFG Asset Management North America Corp. now owns 94,872 shares of the semiconductor company’s stock worth $4,282,000 after acquiring an additional 12,796 shares during the last quarter. Deutsche Bank AG increased its position in Semtech by 168.1% in the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock valued at $41,627,000 after acquiring an additional 758,642 shares during the period. Wellington Management Group LLP increased its position in Semtech by 7.9% in the 1st quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company’s stock valued at $79,575,000 after acquiring an additional 170,132 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of Semtech during the first quarter valued at $6,591,000.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 971 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the transaction, the chief financial officer directly owned 17,844 shares of the company’s stock, valued at $1,299,578.52. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Burvill sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the sale, the director owned 6,909 shares of the company’s stock, valued at $433,539.75. The trade was a 33.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,971 shares of company stock worth $323,463 in the last quarter. Company insiders own 0.48% of the company’s stock.

Semtech Stock Up 6.6%

Shares of Semtech stock opened at $78.28 on Friday. The stock’s 50-day moving average is $69.14 and its 200 day moving average is $56.14. Semtech Corporation has a one year low of $24.05 and a one year high of $79.59. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 252.52 and a beta of 2.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 24th. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $266.97 million during the quarter, compared to the consensus estimate of $266.36 million. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Equities research analysts anticipate that Semtech Corporation will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

SMTC has been the topic of several analyst reports. Roth Capital boosted their price objective on shares of Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Cowen initiated coverage on Semtech in a research report on Tuesday, September 30th. They issued a “buy” rating on the stock. Benchmark raised their price objective on Semtech from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Northland Securities lifted their price objective on Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Finally, Susquehanna upped their target price on Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a report on Tuesday, November 18th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus price target of $76.71.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.