Vanguard Group Inc. Has $182.45 Million Stake in Semtech Co. (NASDAQ:SMTC)

Vanguard Group Inc. lifted its stake in Semtech Co. (NASDAQ:SMTC) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,327,292 shares of the semiconductor company’s stock after acquiring an additional 17,745 shares during the quarter. Vanguard Group Inc. owned approximately 12.95% of Semtech worth $182,451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new position in shares of Semtech during the 4th quarter worth about $63,000. Tower Research Capital LLC TRC lifted its holdings in Semtech by 67.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 1,871 shares during the last quarter. Partnership Wealth Management LLC bought a new position in Semtech during the fourth quarter worth $141,000. SG Americas Securities LLC acquired a new position in shares of Semtech in the fourth quarter valued at $164,000. Finally, Legato Capital Management LLC bought a new position in shares of Semtech in the fourth quarter valued at about $201,000.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several research analyst reports. Roth Mkm lifted their target price on shares of Semtech from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. B. Riley upped their target price on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Craig Hallum lifted their price target on Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up from $40.00) on shares of Semtech in a report on Wednesday, May 29th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average price target of $48.90.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $32.28 on Thursday. The firm has a 50 day moving average of $35.72 and a 200-day moving average of $27.85. Semtech Co. has a 12 month low of $13.13 and a 12 month high of $46.86. The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 4.11. The stock has a market capitalization of $2.09 billion, a PE ratio of -1.91 and a beta of 1.55.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The business had revenue of $206.11 million during the quarter, compared to the consensus estimate of $200.16 million. Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. On average, equities research analysts predict that Semtech Co. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin bought 1,000 shares of the stock in a transaction on Monday, April 8th. The stock was purchased at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the purchase, the chief financial officer now owns 1,000 shares in the company, valued at $33,230. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.