Deutsche Bank AG Increases Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Deutsche Bank AG grew its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 451,436 shares of the semiconductor company’s stock after purchasing an additional 4,218 shares during the quarter. Deutsche Bank AG’s holdings in Semtech were worth $27,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Semtech during the fourth quarter valued at $31,000. Dunhill Financial LLC bought a new position in shares of Semtech in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in shares of Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Semtech during the 4th quarter valued at approximately $52,000. Finally, AlphaQuest LLC increased its holdings in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 772 shares in the last quarter.

Semtech Stock Up 1.0%

Shares of SMTC stock opened at $39.93 on Thursday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -3.06, a PEG ratio of 2.12 and a beta of 1.88. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The company’s 50 day moving average is $32.71 and its 200 day moving average is $47.77.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares of the company’s stock, valued at approximately $508,368.51. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SMTC shares. Craig Hallum reduced their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Robert W. Baird cut 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. Benchmark lowered their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Stifel Nicolaus cut their target price on Semtech from $54.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler reissued an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Semtech currently has an average rating of “Moderate Buy” and an average target price of $56.92.

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.