Hodges Capital Management Inc. Has $6.88 Million Position in Semtech Corporation $SMTC

Hodges Capital Management Inc. lifted its stake in Semtech Corporation (NASDAQ:SMTC) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,525 shares of the semiconductor company’s stock after buying an additional 7,202 shares during the period. Hodges Capital Management Inc. owned about 0.10% of Semtech worth $6,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after acquiring an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Semtech by 3.7% during the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after purchasing an additional 261,647 shares during the period. Capital Research Global Investors increased its position in shares of Semtech by 13.9% during the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after purchasing an additional 571,372 shares during the period. State Street Corp raised its stake in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after purchasing an additional 60,788 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its stake in shares of Semtech by 11.3% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after purchasing an additional 396,504 shares in the last quarter.

Insider Activity

In other news, Director Martin Burvill sold 2,500 shares of Semtech stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the transaction, the director owned 4,409 shares in the company, valued at approximately $392,312.82. The trade was a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $162.10, for a total value of $324,200.00. Following the completion of the transaction, the chief executive officer directly owned 69,228 shares in the company, valued at $11,221,858.80. The trade was a 2.81% 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. In the last ninety days, insiders sold 13,500 shares of company stock worth $1,866,435. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SMTC shares. Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Craig Hallum raised their price objective on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Roth Mkm lifted their target price on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Morgan Stanley upped their target price on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Northland Securities lowered shares of Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $189.07.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $135.27 on Monday. Semtech Corporation has a 52 week low of $42.42 and a 52 week high of $177.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The company’s fifty day moving average is $144.68 and its 200-day moving average is $104.54. The company has a market capitalization of $12.60 billion, a PE ratio of -346.85 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last announced its earnings results 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. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The business had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. 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.

About Semtech

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.