Principal Financial Group Inc. Lowers Stock Position in Semtech Corporation $SMTC

Principal Financial Group Inc. decreased its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 418,964 shares of the semiconductor company’s stock after selling 10,815 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Semtech worth $29,935,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. AlphaQuest LLC boosted its stake in shares of Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 173 shares in the last quarter. Archer Investment Corp lifted its holdings in Semtech by 10.8% in the second quarter. Archer Investment Corp now owns 2,050 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 200 shares during the period. Amalgamated Bank boosted its position in shares of 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 purchasing an additional 214 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Semtech by 24.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 247 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Semtech by 78.4% in the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 287 shares in the last quarter.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 1,333 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $76.20, for a total transaction of $101,574.60. Following the sale, the chief financial officer owned 18,477 shares in the company, valued at $1,407,947.40. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Michael Wilson sold 5,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $75.12, for a total value of $375,600.00. Following the completion of the transaction, the insider owned 60,066 shares of the company’s stock, valued at $4,512,157.92. The trade was a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,967 shares of company stock valued at $1,316,108. 0.48% of the stock is owned by corporate insiders.

Semtech Stock Performance

NASDAQ SMTC opened at $86.50 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.87. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $90.08. The business has a fifty day moving average of $77.27 and a 200-day moving average of $67.32. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 279.03 and a beta of 2.01.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $266.97 million during the quarter, compared to analysts’ expectations of $266.36 million. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, analysts predict that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SMTC. Benchmark upped their target price on shares of Semtech from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Summit Insights upgraded Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, November 25th. Susquehanna raised their price objective on Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a research note on Tuesday, November 18th. Roth Mkm boosted their target price on Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Finally, Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.21.

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.