441,715 Shares in Semtech Co. (NASDAQ:SMTC) Bought by Schroder Investment Management Group

Schroder Investment Management Group acquired a new stake in Semtech Co. (NASDAQ:SMTC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 441,715 shares of the semiconductor company's stock, valued at approximately $27,254,000. Schroder Investment Management Group owned 0.58% of Semtech as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Semtech during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 505 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after acquiring an additional 772 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Semtech in the fourth quarter valued at approximately $91,000. Finally, Pacer Advisors Inc. increased its stake in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock worth $109,000 after purchasing an additional 598 shares during the period.

Semtech Stock Performance

Shares of Semtech stock traded up $0.30 during trading on Monday, reaching $28.31. 3,017,930 shares of the company's stock were exchanged, compared to its average volume of 2,165,326. Semtech Co. has a 1-year low of $25.17 and a 1-year high of $79.52. The company has a market cap of $2.45 billion, a P/E ratio of -2.17, a PEG ratio of 2.12 and a beta of 1.85. The firm's 50-day moving average price is $41.09 and its 200 day moving average price is $50.66.

Remove Ads

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. The firm's revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. As a group, equities research analysts predict that Semtech Co. will post -0.02 EPS for the current year.

Insider Activity at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Lin sold 2,990 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total transaction of $177,755.50. Following the completion of the transaction, the chief financial officer now owns 5,446 shares of the company's stock, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $905,394 in the last quarter. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SMTC. Piper Sandler restated an "overweight" rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Stifel Nicolaus decreased their price target on shares of Semtech from $60.00 to $54.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Robert W. Baird dropped their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Morgan Stanley assumed coverage on shares of Semtech in a research report on Monday. They set an "equal weight" rating and a $30.00 target price on the stock. Finally, Benchmark lowered their target price on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.92.

About Semtech

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.