Candriam S.C.A. bought a new stake in shares of Semtech Corporation (NASDAQ:SMTC – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 97,140 shares of the semiconductor company’s stock, valued at approximately $7,469,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares during the period. Ameriprise Financial Inc. increased its position in shares of Semtech by 3.7% in the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after buying an additional 261,647 shares in the last quarter. State Street Corp increased its position in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in shares of Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock worth $287,499,000 after buying an additional 396,504 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Semtech by 8.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after buying an additional 289,313 shares during the period.
Semtech Stock Performance
Shares of SMTC opened at $136.13 on Monday. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The firm has a market capitalization of $12.68 billion, a P/E ratio of -349.05 and a beta of 2.31. The firm has a 50-day moving average price of $147.85 and a 200 day moving average price of $106.72. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Craig Hallum lifted their price target on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Northland Securities lowered shares of Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Needham & Company LLC upped their price target on shares of Semtech from $105.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Susquehanna raised their price target on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $189.07.
View Our Latest Stock Analysis on SMTC
Insider Activity
In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the sale, the executive vice president owned 8,611 shares of the company’s stock, valued at $1,118,568.90. This trade represents a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of Semtech stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the completion of the sale, the insider owned 80,876 shares in the company, valued at $13,748,920. This represents a 6.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 20,734 shares of company stock worth $2,990,056. 0.48% of the stock is owned by company insiders.
About Semtech
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.
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