MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $4.59 Million Stock Position in Semtech Co. (NASDAQ:SMTC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Semtech Co. (NASDAQ:SMTC) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 74,156 shares of the semiconductor company’s stock after buying an additional 3,616 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.10% of Semtech worth $4,587,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oak Ridge Investments LLC acquired a new position in shares of Semtech during the 4th quarter worth approximately $2,146,000. Nisa Investment Advisors LLC grew its position in shares of Semtech by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company’s stock worth $482,000 after purchasing an additional 870 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Semtech by 643.7% during the 4th quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company’s stock worth $3,545,000 after purchasing an additional 49,609 shares in the last quarter. Inspire Investing LLC grew its position in shares of Semtech by 119.7% during the 4th quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company’s stock worth $1,364,000 after purchasing an additional 12,016 shares in the last quarter. Finally, Accel Wealth Management acquired a new position in shares of Semtech during the 4th quarter worth approximately $204,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SMTC. Benchmark decreased their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Piper Sandler restated an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Robert W. Baird reduced their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Craig Hallum reduced their price target 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. Finally, UBS Group reduced their price target on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $56.92.

Insider Activity at Semtech

In other 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 transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $40.42 on Monday. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -3.10, a PEG ratio of 2.12 and a beta of 1.88. The firm has a 50 day simple moving average of $33.04 and a 200 day simple moving average of $47.71. Semtech Co. has a one year low of $24.05 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. Semtech’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. As a group, analysts expect that Semtech Co. will post -0.02 EPS for the current year.

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.