PFG Advisors 13F: New $1.7M Stake in Semtech (SMTC)

PFG Advisors has opened a new position in Semtech Corporation (NasdaqGS: SMTC), taking 9,289 shares valued at approximately $1.66 million in a filing on October 16, 2026. This marks the fund's first stake in the semiconductor company, which is known for its Internet of Things systems and connectivity services.

What Changed in PFG Advisors' Semtech Position

In this new buy, PFG Advisors acquired 9,289 shares, which is a full position for the firm, indicating a strong interest in Semtech's growth potential. The reported value of this position is about $1.66 million.

Other Institutional Activity in Semtech

Several other institutional investors have also made notable changes in their holdings of Semtech. Blackrock Inc. reduced its stake by 4,472,937 shares, ending with 9,749,439 shares worth approximately $1.33 billion. Vanguard Portfolio Management LLC trimmed its holdings by 1,594,355 shares, resulting in 5,328,594 shares valued at about $728.6 million. Ameriprise Financial, Inc. saw a significant decrease as well, selling off 3,999,248 shares to hold 3,450,916 shares worth around $471.8 million.

Semtech Corporation Stock Down 2.5%

Semtech shares recently traded at $140.58 as of October 16, 2026. This price reflects a strong performance after a series of analyst upgrades. The stock could suggest a favorable outlook, especially with the company experiencing a revenue growth rate of 32.7% year-over-year.

Recent Earnings

Semtech reported trailing twelve-month revenue of approximately $1.17 billion with a net margin of 13.1%. The company's return on equity stands at 23.7%. The next earnings report is expected on November 23, 2026, which could offer further insights into its financial health.

Insider Buying and Selling at Semtech Corporation

Recent insider transactions at Semtech include Chief Executive Officer Hong Q. Hou selling 2,000 shares at an average price of $138.71 for a value of $277,420 on September 4, 2026. CFO Mark Lin sold 683 shares at $159.90 for a total of $109,212 on September 10, 2026, and later sold another 967 shares at an average price of $178.87 for $172,967 on October 1, 2026. The CEO also sold another 2,000 shares at $191.21 for $382,420 on October 2, 2026.

Analysts Set New Price Targets

On August 27, 2026, Northland Capital Markets upgraded Semtech to an Outperform rating with a price target of $182. Seaport Global initiated a Buy rating with a target of $200 on September 23, 2026. Oppenheimer maintained its Outperform rating with a new target of $225 on October 1, 2026, and Stifel also kept a Buy rating with a target of $220 on October 5, 2026. Most recently, BMO Capital reasserted an Outperform rating with a price target of $230 on October 13, 2026. The consensus from analysts leans positive with a target mean price indicating further upside potential.

About Semtech Corporation

Semtech Corporation provides semiconductor and connectivity solutions, focusing on Internet of Things systems. The company operates in various segments, including Signal Integrity and IoT Systems and Connectivity. With its innovative technology, Semtech is well-positioned to capitalize on trends in the semiconductor industry.

Bottom Line

Investors should keep an eye on Semtech's upcoming earnings on November 23, 2026, and watch for any adjustments in institutional holdings. Also, consider that this 13F filing reflects positions as of the end of the reporting period and may not represent PFG Advisors' current position. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.