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

Vanguard Group Inc. raised its position in shares of Semtech Co. (NASDAQ:SMTC) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 about 0.15% of Semtech worth $713,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Moody National Bank Trust Division raised its position in Semtech by 148.6% in the 4th quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 12,296 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Semtech by 15.8% in the fourth quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after buying an additional 56,108 shares during the last quarter. Rhumbline Advisers lifted its position in Semtech by 6.1% during the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock worth $12,702,000 after buying an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in Semtech during the 4th quarter worth about $2,680,000. Finally, Stephens Inc. AR acquired a new stake in Semtech in the 4th quarter valued at about $889,000.

Insiders Place Their Bets

In related news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction dated Friday, January 17th. The stock was 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 approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 2,907 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were 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 owns 13,481 shares in the company, valued at $508,368.51. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,484 shares of company stock worth $993,933. Corporate insiders own 0.60% of the company’s stock.

Semtech Price Performance

NASDAQ:SMTC opened at $35.05 on Monday. The business’s 50-day simple moving average is $45.94 and its 200-day simple moving average is $51.10. Semtech Co. has a fifty-two week low of $27.25 and a fifty-two week high of $79.52. The stock has a market capitalization of $3.03 billion, a PE ratio of -2.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter last year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, research analysts expect that Semtech Co. will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SMTC shares. Stifel Nicolaus lowered their price target on shares of Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 14th. UBS Group dropped their target price on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Benchmark decreased their price target on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Piper Sandler reissued an “overweight” rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Finally, Craig Hallum reduced their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.55.

Semtech Profile

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.