Driehaus Capital Management 13F: Cuts SMTC Stake by $50M

Driehaus Capital Management has reduced its stake in Semtech Corporation (NasdaqGS: SMTC) by approximately 32.5%. As of its latest 13F filing with the SEC, Driehaus cut its holdings by 302,849 shares, leaving it with 628,456 shares valued at about $104.8 million. This filing reflects the fund's position as of the end of the reporting period and may not indicate its current holdings.

What Changed in Driehaus Capital Management's Semtech Corporation Position

Driehaus Capital Management's recent 13F filing shows a significant reduction in its position in Semtech Corporation. Previously holding 931,305 shares, the fund now has 628,456 shares, representing a decrease of 302,849 shares, or 32.5%. The value of its current stake is approximately $104.8 million.

Other Institutional Activity in Semtech Corporation

In other institutional activity, BlackRock, Inc. increased its holdings in Semtech by 1,033,164 shares, bringing its total to 14,222,219 shares worth about $1.09 billion. Ameriprise Financial Inc. reduced its position by 101,872 shares, leaving 7,450,380 shares valued at $572.6 million. Vanguard Portfolio Management LLC acquired 6,922,634 shares, reaching a total of 6,922,634 shares valued at $532.3 million. Meanwhile, Capital Research Global Investors trimmed its stake by 350,638 shares to 4,152,082 shares, worth approximately $319.3 million. State Street Corp added 211,021 shares, closing with 4,059,266 shares valued at $312.1 million.

Semtech Corporation Stock Up 14.5%

Shares of Semtech Corporation (NasdaqGS: SMTC) traded at around $166.71. The company has a market capitalization of approximately $15.53 billion and a forward P/E ratio of 42.9. Semtech's stock has experienced a 52-week low of $39.97 and a high of $172.36. The stock's 50-day moving average is $125.06, while the 200-day moving average stands at $86.79. Semtech's balance sheet shows a current ratio of 2.37 and a quick ratio of 1.235, with a debt-to-equity ratio of 90.284.

Recent Earnings

Semtech Corporation reported revenue of $1.09 billion with a growth rate of 15.9%. However, the company is currently not profitable, with a net margin of -3.04% and a return on equity of -5.81%. The next earnings report is expected on August 24, 2026.

Insider Buying and Selling at Semtech Corporation

On June 10, 2026, several insiders engaged in transactions involving Semtech stock. Chief Quality Officer and CTO John Michael Wilson sold 1,400 shares and 713 shares at an average price of $157.52. EVP and COO Asaf Silberstein sold 2,438 shares and 1,241 shares at the same price. EVP and CFO Mark Lin, however, purchased 2,349 shares. EVP and CCO Jason Elliot Green also sold 2,510 shares.

Analysts Set New Price Targets

On May 27, 2026, several analysts maintained their ratings on Semtech Corporation. UBS, B. Riley Securities, Craig-Hallum, Roth Capital, Stifel, Susquehanna, and Benchmark all reiterated a "buy" rating, with price targets ranging from $188 to $230. Morgan Stanley maintained a "hold" rating with a target of $175. The consensus among analysts is a "buy" rating with a mean price target of $204.83, based on 12 analyst opinions.

About Semtech Corporation

Semtech Corporation, headquartered in Camarillo, California, is a technology company specializing in semiconductor products. It provides a range of solutions including Internet of Things systems and cloud connectivity services. The company's operations are divided into three segments: Signal Integrity, Analog Mixed Signal and Wireless, and IoT Systems and Connectivity. Semtech's products serve various markets, including infrastructure, industrial, and high-end consumer sectors. Led by CEO Dr. Hong Q. Hou, the company employs approximately 1,920 people.

Bottom Line

Driehaus Capital Management's reduction in its Semtech stake is part of the latest 13F filings, which are backward-looking and may not represent current positions. Semtech remains a company under the radar for its semiconductor and IoT solutions, and its stock performance reflects a volatile market. Investors will be watching upcoming earnings and insider activities for further insights.