Bank of New York Mellon Corp Has $38.87 Million Stock Holdings in Semtech Corporation $SMTC

Bank of New York Mellon Corp boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 2.0% during the first quarter, HoldingsChannel reports. The fund owned 505,504 shares of the semiconductor company’s stock after purchasing an additional 9,991 shares during the quarter. Bank of New York Mellon Corp’s holdings in Semtech were worth $38,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new position in shares of Semtech during the first quarter valued at $33,000. IFP Advisors Inc bought a new stake in shares of Semtech in the fourth quarter worth $53,000. Smartleaf Asset Management LLC increased its holdings in Semtech by 24.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 247 shares during the period. Sound Income Strategies LLC acquired a new stake in Semtech in the fourth quarter valued at $60,000. Finally, NewEdge Advisors LLC increased its holdings in Semtech by 1,215.4% in the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 790 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Northland Securities downgraded Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Roth Capital increased their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Stifel Nicolaus raised their price objective on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price objective on Semtech in a research note on Wednesday, May 27th. Finally, Robert W. Baird upped their target price on Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average price target of $189.07.

Insider Buying and Selling at Semtech

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of Semtech stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the sale, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $133.00, for a total value of $266,000.00. Following the completion of the transaction, the chief executive officer directly owned 64,799 shares in the company, valued at approximately $8,618,267. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,234 shares of company stock valued at $3,203,091 over the last ninety days. Insiders own 0.44% of the company’s stock.

Semtech Stock Performance

Shares of SMTC opened at $125.92 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $11.73 billion, a P/E ratio of -322.87 and a beta of 2.31. The firm’s fifty day simple moving average is $149.03 and its two-hundred day simple moving average is $110.52. Semtech Corporation has a 12 month low of $46.02 and a 12 month high of $177.35.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, analysts predict that Semtech Corporation will post 1.81 EPS for the current 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.