Inspire Investing LLC bought a new position in shares of Semtech Co. (NASDAQ: SMTC – Get Rating ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,370 shares of the semiconductor company’s stock, valued at approximately $234,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. Allspring Global Investments Holdings LLC purchased a new stake in Semtech in the fourth quarter valued at $37,009,000. Goldman Sachs Group Inc. raised its position in Semtech by 54.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 469,884 shares of the semiconductor company’s stock valued at $41,787,000 after acquiring an additional 166,477 shares in the last quarter. Nishkama Capital LLC lifted its position in shares of Semtech by 139.2% during the fourth quarter. Nishkama Capital LLC now owns 265,024 shares of the semiconductor company’s stock valued at $23,569,000 after buying an additional 154,207 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Semtech by 1,600.5% in the fourth quarter. Panagora Asset Management Inc. now owns 119,153 shares of the semiconductor company’s stock valued at $10,596,000 after buying an additional 112,146 shares during the period. Finally, Woodline Partners LP lifted its position in shares of Semtech by 94.2% in the fourth quarter. Woodline Partners LP now owns 218,447 shares of the semiconductor company’s stock valued at $19,426,000 after buying an additional 105,965 shares during the period. 96.33% of the shares are currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the stock. Susquehanna decreased their price objective on shares of Semtech from $75.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, June 1st. Oppenheimer reduced their price objective on shares of Semtech from $100.00 to $85.00 in a research report on Thursday, May 26th. Needham & Company LLC decreased their price objective on shares of Semtech from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Cowen reduced their price objective on shares of Semtech to $85.00 in a research report on Friday, June 3rd. Finally, B. Riley downgraded shares of Semtech from a “buy” rating to a “neutral” rating and cut their target price for the company from $87.00 to $65.00 in a research note on Wednesday, June 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and an average target price of $78.40, according to MarketBeat.com .
Shares of SMTC stock opened at $53.25 on Monday. The company has a market cap of $3.38 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.54. The company has a debt-to-equity ratio of 0.25, a quick earnings ratio of 3.52 and a current ratio of 4.49. Semtech Co. has a 52-week low of $49.91 and a 52-week high of $94.92. The company’s 50-day simple moving average is $58.53, and its 200-day simple moving average is $66.45.
Semtech (NASDAQ:SMTC – Get Rating ) last announced its quarterly earnings data on Wednesday, June 1st. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $202.10 million for the quarter, compared to the consensus estimate of $199.98 million. Semtech had a net margin of 18.15% and a return on equity of 20.24%. The business’s revenue for the quarter was up 18.6% year-over-year. In the same period last year, the company reported earnings of $0.38 per share. On average, analysts predict that Semtech Co. will post 2.75 EPS for the current year.
In other Semtech news, EVP Asaf Silberstein sold 1,971 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $62.60, for a total transaction of $123,384.60. Following the sale, the executive vice president now directly owns 59,000 shares in the company, valued at $3,693,400. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s shares.
About Semtech (Get Rating)
Semtech Corporation designs, develops, manufactures and markets analog and mixed signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in a variety of infrastructure and industrial applications; a portfolio of integrated circuits for data center, enterprise networks, passive optical networks, optical wireless base station transceivers and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio-video applications.
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