EFG Asset Management North America Corp. Purchases 14,734 Shares of Semtech Corporation $SMTC

EFG Asset Management North America Corp. grew its position in shares of Semtech Corporation (NASDAQ:SMTC) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,606 shares of the semiconductor company’s stock after acquiring an additional 14,734 shares during the period. Semtech comprises 1.0% of EFG Asset Management North America Corp.’s portfolio, making the stock its 14th largest position. EFG Asset Management North America Corp. owned 0.13% of Semtech worth $7,830,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SMTC. Vanguard Personalized Indexing Management LLC purchased a new position in Semtech during the 3rd quarter valued at about $355,000. Strs Ohio grew its position in shares of Semtech by 35.2% in the 3rd quarter. Strs Ohio now owns 7,300 shares of the semiconductor company’s stock worth $522,000 after buying an additional 1,900 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Semtech during the third quarter valued at approximately $17,751,000. Emerald Advisers LLC purchased a new position in shares of Semtech during the third quarter valued at approximately $29,944,000. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Semtech by 69.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 16,790 shares of the semiconductor company’s stock valued at $1,191,000 after acquiring an additional 6,906 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMTC. Susquehanna raised their target price on shares of Semtech from $65.00 to $80.00 and gave the stock a “positive” rating in a research report on Tuesday, November 18th. Wall Street Zen downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday. Piper Sandler restated an “overweight” rating and issued a $95.00 price objective (up from $70.00) on shares of Semtech in a report on Thursday, December 11th. Summit Insights raised Semtech from a “hold” rating to a “buy” rating in a research report on Tuesday, November 25th. Finally, B. Riley increased their target price on Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.21.

Insiders Place Their Bets

In other news, Director Gregory Michael Fischer sold 1,034 shares of Semtech stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $75.50, for a total value of $78,067.00. Following the completion of the transaction, the director owned 2,857 shares of the company’s stock, valued at $215,703.50. The trade was a 26.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $78.25, for a total transaction of $39,125.00. Following the sale, the director directly owned 25,279 shares in the company, valued at $1,978,081.75. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,967 shares of company stock valued at $1,316,108. Company insiders own 0.48% of the company’s stock.

Semtech Trading Up 0.8%

NASDAQ:SMTC opened at $81.17 on Tuesday. The firm has a market capitalization of $7.51 billion, a P/E ratio of 261.84 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 Corporation has a one year low of $24.05 and a one year high of $83.80. The company’s 50-day simple moving average is $74.61 and its 200 day simple moving average is $65.45.

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

Semtech 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.