TD Asset Management Inc Acquires Shares of 33,042 Semtech Corporation $SMTC

TD Asset Management Inc purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 33,042 shares of the semiconductor company’s stock, valued at approximately $2,361,000.

Several other institutional investors and hedge funds have also bought and sold shares of SMTC. Bessemer Group Inc. boosted its holdings in 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. Hantz Financial Services Inc. boosted its position in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 360 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Semtech during the 3rd quarter valued at about $41,000. AlphaQuest LLC lifted its stake in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after buying an additional 235 shares during the last quarter.

Semtech Stock Performance

NASDAQ:SMTC opened at $89.75 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 289.52 and a beta of 1.99. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $96.46. The stock’s 50 day simple moving average is $82.27 and its two-hundred day simple moving average is $72.11.

Analyst Ratings Changes

SMTC has been the topic of several analyst reports. Benchmark lifted their price target on shares of Semtech from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen reiterated a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research note on Thursday, December 11th. Roth Mkm lifted their price target on shares of Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Wall Street Zen cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Semtech currently has an average rating of “Moderate Buy” and an average target price of $81.36.

Insider Buying and Selling at Semtech

In other news, COO Asaf Silberstein sold 10,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $92.00, for a total value of $920,000.00. Following the sale, the chief operating officer directly owned 68,496 shares in the company, valued at $6,301,632. The trade was a 12.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Michael Wilson sold 5,000 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $75.12, for a total transaction of $375,600.00. Following the completion of the transaction, the insider directly owned 60,066 shares of the company’s stock, valued at approximately $4,512,157.92. The trade was a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,967 shares of company stock valued at $2,236,108 over the last ninety days. Corporate insiders own 0.48% 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.