Fifth Third Bancorp Has $1.77 Million Holdings in Semtech Corporation $SMTC

Fifth Third Bancorp boosted its position in shares of Semtech Corporation (NASDAQ:SMTC) by 2,380.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,970 shares of the semiconductor company’s stock after purchasing an additional 22,044 shares during the period. Fifth Third Bancorp’s holdings in Semtech were worth $1,766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of Semtech during the first quarter worth about $33,000. IFP Advisors Inc acquired a new stake in Semtech in the 4th quarter valued at approximately $53,000. Smartleaf Asset Management LLC lifted its stake in Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 247 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Semtech in the 4th quarter valued at approximately $60,000. Finally, NewEdge Advisors LLC boosted its position in Semtech by 1,215.4% during the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 790 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SMTC. Mizuho set a $225.00 price target on shares of Semtech in a research note on Wednesday, May 27th. Morgan Stanley increased their target price on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. B. Riley Financial raised their target price 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. Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Susquehanna boosted their price target on shares of Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.07.

Semtech Stock Performance

Shares of SMTC opened at $136.93 on Thursday. The firm has a 50-day moving average of $149.32 and a 200-day moving average of $109.97. Semtech Corporation has a one year low of $46.02 and a one year high of $177.35. The company has a market cap of $12.76 billion, a PE ratio of -351.10 and a beta of 2.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62.

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, beating 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 company had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. During the same period in the prior year, the firm earned $0.38 EPS. Semtech’s quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Mark Lin sold 970 shares of Semtech stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the transaction, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the transaction, the chief executive officer directly owned 64,799 shares in the company, valued at $8,618,267. The trade was 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. Over the last 90 days, insiders sold 22,234 shares of company stock valued at $3,203,091. Insiders own 0.44% of the company’s stock.

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.