Vanguard Group Inc. Has $713.91 Million Holdings in Semtech Co. (NASDAQ:SMTC)

Vanguard Group Inc. boosted its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,542,545 shares of the semiconductor company's stock after buying an additional 1,326,226 shares during the period. Vanguard Group Inc. owned 15.25% of Semtech worth $713,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SMTC. Charles Schwab Investment Management Inc. increased its holdings in Semtech by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company's stock worth $48,303,000 after buying an additional 100,410 shares during the period. Citigroup Inc. grew its position in shares of Semtech by 50.0% in the third quarter. Citigroup Inc. now owns 97,401 shares of the semiconductor company's stock valued at $4,447,000 after purchasing an additional 32,454 shares during the period. Cerity Partners LLC purchased a new stake in Semtech during the 3rd quarter worth approximately $487,000. Glenmede Trust Co. NA acquired a new stake in Semtech during the 3rd quarter worth $304,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Semtech in the 3rd quarter valued at about $3,237,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler reiterated an "overweight" rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. UBS Group decreased their price objective on Semtech from $65.00 to $60.00 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 on the stock in a research note on Friday, February 7th. Needham & Company LLC restated a "buy" rating and issued a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Finally, Northland Securities raised their price target on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. 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, Semtech has an average rating of "Moderate Buy" and a consensus price target of $61.55.

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Semtech Price Performance

Semtech stock traded up $0.46 during mid-day trading on Tuesday, hitting $34.86. The company's stock had a trading volume of 2,320,731 shares, compared to its average volume of 2,192,130. The firm's 50 day moving average is $44.28 and its 200 day moving average is $51.01. Semtech Co. has a 52-week low of $27.25 and a 52-week high of $79.52. The company has a market cap of $3.02 billion, a PE ratio of -2.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its 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 firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The business's quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. As a group, analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 1,359 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the transaction, the chief financial officer now directly owns 4,164 shares in the company, valued at $271,284.60. The trade was a 24.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares in the company, valued at $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,484 shares of company stock worth $993,933. Insiders own 0.60% of the company's stock.

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.