Inspire Investing LLC purchased a new position in shares of Semtech Co. (NASDAQ:SMTC – Get Rating) during the 1st 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 bought a new stake in Semtech during the fourth quarter worth $37,009,000. Goldman Sachs Group Inc. raised its position in Semtech by 54.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 469,884 shares of the semiconductor company’s stock worth $41,787,000 after acquiring an additional 166,477 shares in the last quarter. Nishkama Capital LLC raised its position in shares of Semtech by 139.2% in the fourth quarter. Nishkama Capital LLC now owns 265,024 shares of the semiconductor company’s stock valued at $23,569,000 after purchasing an additional 154,207 shares during the period. Panagora Asset Management Inc. raised 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 purchasing an additional 112,146 shares during the period. Finally, Woodline Partners LP raised 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 purchasing an additional 105,965 shares during the period. 96.33% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Susquehanna dropped 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 dropped their price objective on shares of Semtech from $100.00 to $85.00 in a research report on Thursday, May 26th. Needham & Company LLC dropped 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 dropped 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 decreased their price target for the company from $87.00 to $65.00 in a research note on Wednesday, June 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.40.
SMTC stock opened at $53.25 on Monday. The company has a market capitalization 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 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, analysts forecast 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 & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
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 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.
See Also
Receive News & Ratings for Semtech Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Semtech and related companies with MarketBeat.com’s FREE daily email newsletter.
