Vanguard Group Inc. Purchases 298,987 Shares of Semtech Corporation $SMTC

Vanguard Group Inc. raised its position in Semtech Corporation (NASDAQ:SMTC) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 11,858,352 shares of the semiconductor company’s stock after buying an additional 298,987 shares during the period. Vanguard Group Inc. owned 0.13% of Semtech worth $873,842,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SMTC. Think Investments LP bought a new stake in Semtech in the third quarter valued at approximately $58,618,000. Ameriprise Financial Inc. increased its stake in Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Atreides Management LP bought a new stake in Semtech in the second quarter valued at approximately $29,880,000. Westfield Capital Management Co. LP increased its stake in Semtech by 23.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock valued at $241,528,000 after purchasing an additional 633,113 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Semtech by 199.3% in the third quarter. Schroder Investment Management Group now owns 879,880 shares of the semiconductor company’s stock valued at $62,867,000 after purchasing an additional 585,852 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Semtech from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Robert W. Baird increased their price objective on shares of Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Wall Street Zen downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Craig Hallum increased their price objective on shares of Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Finally, Susquehanna increased their price objective on shares of Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Fourteen research 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. According to data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $95.71.

Insiders Place Their Bets

In related news, COO Asaf Silberstein sold 10,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the chief operating officer owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. This trade represents a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $90.11, for a total transaction of $180,220.00. Following the completion of the transaction, the chief executive officer directly owned 73,228 shares of the company’s stock, valued at approximately $6,598,575.08. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,384 shares of company stock valued at $3,920,140 in the last quarter. Company insiders own 0.48% of the company’s stock.

Semtech Stock Up 2.6%

Shares of SMTC stock opened at $107.81 on Friday. The firm has a fifty day moving average of $88.30 and a 200-day moving average of $79.72. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89. Semtech Corporation has a 12-month low of $32.77 and a 12-month high of $113.05. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of -245.02 and a beta of 2.22.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $274.40 million during the quarter, compared to the consensus estimate of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, equities research analysts predict that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Semtech Company Profile

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.