SG Americas Securities LLC Buys Shares of 15,816 Semtech Corporation $SMTC

SG Americas Securities LLC acquired 15,816 shares of Semtech Corporation, valued at $714,000, during Q2. Analysts have given Semtech a "Moderate Buy" rating with a consensus price target of $71.23. Insider trading activity includes sales by directors Paul V. Walsh, Jr. and Martin Burvill. Semtech's stock opened at $70.01, with a market cap of $6.08 billion and a PE ratio of 291.71.

SG Americas Securities LLC purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,816 shares of the semiconductor company's stock, valued at approximately $714,000.

Why Semtech Stock Is Rallying After Its NVIDIA Setback

A number of other large investors have also added to or reduced their stakes in SMTC. Amalgamated Bank grew its holdings in Semtech by 0.9% during the 2nd quarter. Amalgamated Bank now owns 24,229 shares of the semiconductor company's stock worth $1,094,000 after acquiring an additional 214 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Semtech by 33.4% during the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 257 shares during the period. Bessemer Group Inc. grew its stake in shares of Semtech by 78.4% in the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 287 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in Semtech by 1.4% in the second quarter. Maryland State Retirement & Pension System now owns 25,457 shares of the semiconductor company's stock valued at $1,149,000 after purchasing an additional 356 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Semtech by 4.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,063 shares of the semiconductor company's stock worth $590,000 after purchasing an additional 566 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Benchmark upped their price target on Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Needham & Company LLC upped their target price on Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded shares of Semtech from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 15th. Cowen initiated coverage on shares of Semtech in a research report on Tuesday, September 30th. They issued a "buy" rating on the stock. Finally, Northland Securities increased their price objective on shares of Semtech from $48.00 to $53.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Semtech has an average rating of "Moderate Buy" and a consensus price target of $71.23.

Semtech: Bullish Market Forces Come Into Alignment for This Stock

Check Out Our Latest Stock Report on Semtech

Insider Activity

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the company's stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total transaction of $33,120.00. Following the transaction, the director owned 26,779 shares in the company, valued at approximately $1,773,840.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Burvill sold 3,500 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director owned 6,909 shares of the company's stock, valued at approximately $433,539.75. This represents a 33.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,971 shares of company stock worth $323,463. Company insiders own 0.48% of the company's stock.

Semtech Price Performance

Down Over 50%—Are These 2 Chip Stocks the Next NVIDIA?

Shares of SMTC opened at $70.01 on Tuesday. The firm has a market cap of $6.08 billion, a PE ratio of 291.71 and a beta of 2.03. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $79.52. The business's 50 day moving average price is $67.17 and its two-hundred day moving average price is $54.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $266.36 million. Semtech had a net margin of 2.38% and a return on equity of 18.28%. Semtech's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. On average, equities analysts anticipate that Semtech Corporation will post -0.02 EPS for the current year.

About Semtech

(Free Report)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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