Bessemer Group Inc. Buys 25,947 Shares of Semtech Corporation $SMTC

Bessemer Group Inc. grew its stake in Semtech Corporation (NASDAQ:SMTC) by 41.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,286 shares of the semiconductor company’s stock after buying an additional 25,947 shares during the period. Bessemer Group Inc.’s holdings in Semtech were worth $6,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after acquiring an additional 2,565 shares during the last quarter. Empowered Funds LLC raised its holdings in Semtech by 11.5% during the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock worth $323,000 after purchasing an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Semtech by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after purchasing an additional 22,629 shares during the period. Strs Ohio acquired a new position in shares of Semtech in the 1st quarter worth approximately $65,000. Finally, Cetera Investment Advisers bought a new stake in shares of Semtech in the 2nd quarter valued at $226,000.

Semtech Stock Performance

NASDAQ:SMTC opened at $124.96 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. The company has a fifty day moving average of $149.47 and a 200-day moving average of $108.71. The firm has a market capitalization of $11.64 billion, a P/E ratio of -320.41 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $291.02 million for the quarter, compared to analyst estimates 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 was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts anticipate that Semtech Corporation will post 1.81 EPS for the current year.

Insider Activity at Semtech

In related news, EVP Jason Elliot Green sold 2,264 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total transaction of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the transaction, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their position. 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. Over the last ninety days, insiders have sold 22,734 shares of company stock worth $3,256,056. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. TD Cowen increased their price target on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, B. Riley Financial boosted their price objective on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.07.

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.