2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. boosted its stake in Semtech Co. ( NASDAQ:SMTC – Free Report ) by 65.
0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,282 shares of the semiconductor company’s stock after purchasing an additional 33,980 shares during the quarter. Envestnet Asset Management Inc.
’s holdings in Semtech were worth $5,337,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds have also bought and sold shares of SMTC. Dynamic Technology Lab Private Ltd bought a new stake in shares of Semtech during the 4th quarter worth approximately $1,326,000.
Ovata Capital Management Ltd acquired a new position in Semtech during the fourth quarter valued at approximately $4,948,000. Pamalican Asset Management Ltd bought a new stake in Semtech during the fourth quarter worth $6,272,000. ExodusPoint Capital Management LP boosted its holdings in shares of Semtech by 132.
1% in the 4th quarter. ExodusPoint Capital Management LP now owns 49,193 shares of the semiconductor company’s stock valued at $3,043,000 after purchasing an additional 27,994 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Semtech by 12.
2% in the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company’s stock valued at $112,317,000 after purchasing an additional 197,732 shares during the last quarter. Semtech Trading Up 1.
4 % Shares of SMTC opened at $24.69 on Wednesday. The firm’s fifty day simple moving average is $33.
70 and its two-hundred day simple moving average is $48.95. Semtech Co.
has a 12 month low of $24.05 and a 12 month high of $79.52.
The stock has a market capitalization of $2.14 billion, a P/E ratio of -1.89, a price-to-earnings-growth ratio of 2.
12 and a beta of 1.85. Insider Activity at Semtech In related news, CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction dated Wednesday, January 29th.
The stock was sold at an average price of $59.45, for a total value of $177,755.50.
Following the completion of the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at $323,764.70. The trade was a 35.
44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website . Insiders have sold 16,787 shares of company stock worth $665,044 in the last quarter.
Company insiders own 0.60% of the company’s stock. Wall Street Analysts Forecast Growth Several analysts recently weighed in on SMTC shares.
Benchmark reduced their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th.
UBS Group decreased their price target on shares of Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, March 14th.
Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th.
Morgan Stanley began coverage on shares of Semtech in a research note on Monday, April 7th. They set an “equal weight” rating and a $30.00 target price on the stock.
Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock.
Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.33. Read Our Latest Stock Report on Semtech Semtech Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Co.
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