Semtech Corporation $SMTC Stock Holdings Increased by Fred Alger Management LLC

Fred Alger Management LLC boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 859,855 shares of the semiconductor company’s stock after purchasing an additional 92,396 shares during the period. Fred Alger Management LLC owned approximately 0.93% of Semtech worth $63,363,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Think Investments LP acquired a new stake in shares of Semtech during the 3rd quarter valued at $58,618,000. Ameriprise Financial Inc. lifted its holdings in shares of Semtech by 10.3% during the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares during the last quarter. Atreides Management LP purchased a new stake in shares of Semtech during the second quarter valued at $29,880,000. Westfield Capital Management Co. LP boosted its position in shares of Semtech by 23.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock valued at $241,528,000 after purchasing an additional 633,113 shares during the period. Finally, Schroder Investment Management Group increased its stake in Semtech by 199.3% in the 3rd quarter. Schroder Investment Management Group now owns 879,880 shares of the semiconductor company’s stock worth $62,867,000 after purchasing an additional 585,852 shares in the last quarter.

Analyst Upgrades and Downgrades

SMTC has been the topic of several recent analyst reports. Roth Mkm boosted their price objective on Semtech from $102.00 to $190.00 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. B. Riley Financial upped their price target on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Northland Securities lowered shares of Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus boosted their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $179.73.

Insider Activity at Semtech

In related news, Director Martin Burvill sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares in the company, valued at approximately $392,312.82. The trade was a 36.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jason Elliot Green sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the sale, 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,160 shares of company stock worth $2,227,705 in the last 90 days. Insiders own 0.48% of the company’s stock.

Semtech Price Performance

NASDAQ SMTC opened at $161.59 on Wednesday. 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 market capitalization of $15.05 billion, a price-to-earnings ratio of -414.33 and a beta of 2.32. The company has a 50 day simple moving average of $128.96 and a 200-day simple moving average of $97.34. Semtech Corporation has a 52-week low of $39.97 and a 52-week high of $177.35.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities 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.