Natixis boosted its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 1,517.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,943 shares of the semiconductor company's stock after purchasing an additional 106,900 shares during the period. Natixis owned about 0.15% of Semtech worth $7,047,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after buying an additional 1,911,890 shares during the last quarter. Vanguard Group Inc. raised its stake in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after acquiring an additional 1,326,226 shares in the last quarter. Capital World Investors bought a new position in shares of Semtech in the fourth quarter worth about $37,110,000. Portolan Capital Management LLC boosted its stake in shares of Semtech by 609.5% in the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock valued at $41,267,000 after purchasing an additional 573,175 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Semtech during the 4th quarter valued at approximately $27,254,000.
Semtech Price Performance
Shares of SMTC traded up $2.46 during trading hours on Wednesday, hitting $27.15. 3,187,187 shares of the stock were exchanged, compared to its average volume of 2,116,277. The firm has a market capitalization of $2.35 billion, a P/E ratio of -2.08, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The business has a 50-day moving average of $33.50 and a 200-day moving average of $48.80.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same period last year, the business posted ($0.06) earnings per share. The business's revenue was up 30.1% on a year-over-year basis. As a group, analysts forecast that Semtech Co. will post -0.02 earnings per share for the current fiscal year.
Insider Transactions at Semtech
In related news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now directly owns 13,481 shares of the company's stock, valued at $508,368.51. The trade was a 17.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 16,787 shares of company stock valued at $665,044 in the last quarter. 0.60% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SMTC. Robert W. Baird cut their target price 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Stifel Nicolaus cut their price target on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Finally, Benchmark cut 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and a consensus target price of $57.33.
View Our Latest Analysis on SMTC
Semtech Company Profile
(
Free Report)
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.
Read More
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
