Semtech Co. (NASDAQ:SMTC) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Semtech Co. (NASDAQ:SMTC) by 13.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,542,545 shares of the semiconductor company’s stock after acquiring an additional 1,326,226 shares during the quarter. Vanguard Group Inc. owned approximately 15.25% of Semtech worth $713,906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moody National Bank Trust Division grew its position in Semtech by 148.6% during the 4th quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 12,296 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Semtech by 15.8% during the fourth quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after buying an additional 56,108 shares in the last quarter. Rhumbline Advisers raised its position in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock valued at $12,702,000 after buying an additional 11,878 shares during the period. Convergence Investment Partners LLC purchased a new stake in Semtech in the 4th quarter worth about $2,680,000. Finally, Stephens Inc. AR acquired a new stake in Semtech during the 4th quarter worth about $889,000.

Insider Transactions at Semtech

In related news, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Lin sold 1,359 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares in the company, valued at $271,284.60. This trade represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,484 shares of company stock valued at $993,933. 0.60% of the stock is owned by corporate insiders.

Semtech Trading Down 5.1 %

Shares of Semtech stock opened at $35.05 on Monday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a 1 year low of $27.25 and a 1 year high of $79.52. The company’s fifty day simple moving average is $45.94 and its 200-day simple moving average is $51.10.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, research analysts forecast that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. UBS Group lowered their target price on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Northland Securities raised their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Robert W. Baird lowered their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $61.55.

Semtech Profile

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.