Baird Financial Group Inc. Has $4.46 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Baird Financial Group Inc. increased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,153 shares of the semiconductor company’s stock after buying an additional 5,251 shares during the period. Baird Financial Group Inc. owned 0.10% of Semtech worth $4,463,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SMTC. Quadrant Capital Group LLC lifted its position in shares of Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 337 shares in the last quarter. Hollencrest Capital Management acquired a new position in Semtech during the 4th quarter worth $31,000. Smartleaf Asset Management LLC boosted its position in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares during the last quarter. Mariner LLC increased its stake in shares of Semtech by 3.3% in the 4th quarter. Mariner LLC now owns 18,136 shares of the semiconductor company’s stock valued at $1,122,000 after buying an additional 582 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 598 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on SMTC shares. Morgan Stanley began coverage on Semtech in a research report on Monday, April 7th. They issued an “equal weight” rating and a $30.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. UBS Group reduced their price objective on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Benchmark dropped their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Piper Sandler restated an “overweight” rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $56.92.

Semtech Stock Performance

NASDAQ SMTC opened at $35.07 on Friday. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The business has a 50 day simple moving average of $32.41 and a 200 day simple moving average of $47.88. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. On average, analysts predict that Semtech Co. will post -0.02 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark Lin sold 2,907 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 13,481 shares of the company’s stock, valued at approximately $508,368.51. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.