Mizuho Markets Americas LLC Makes New $6.24 Million Investment in Semtech Corporation $SMTC

Mizuho Markets Americas LLC acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 84,675 shares of the semiconductor company’s stock, valued at approximately $6,240,000.

Several other institutional investors also recently bought and sold shares of SMTC. Think Investments LP purchased a new position in Semtech during the 3rd quarter worth $58,618,000. Ameriprise Financial Inc. increased its holdings in Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after purchasing an additional 666,456 shares during the period. Atreides Management LP purchased a new position in Semtech during the 2nd quarter worth $29,880,000. Westfield Capital Management Co. LP increased its holdings in Semtech by 23.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock worth $241,528,000 after purchasing an additional 633,113 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of Semtech by 199.3% in the 3rd quarter. Schroder Investment Management Group now owns 879,880 shares of the semiconductor company’s stock valued at $62,867,000 after acquiring an additional 585,852 shares during the period.

Insider Activity

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the transaction, the director directly owned 23,279 shares in the company, valued at $3,217,390.59. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $90.11, for a total value of $180,220.00. Following the transaction, the chief executive officer owned 73,228 shares in the company, valued at approximately $6,598,575.08. This trade represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,884 shares of company stock worth $3,069,245 over the last quarter. Company insiders own 0.48% of the company’s stock.

Semtech Trading Up 7.0%

Shares of NASDAQ:SMTC opened at $156.78 on Friday. Semtech Corporation has a 12-month low of $34.59 and a 12-month high of $164.48. The business’s fifty day simple moving average is $100.99 and its 200-day simple moving average is $86.11. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $14.60 billion, a PE ratio of -356.32 and a beta of 2.22.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMTC. TD Cowen reiterated a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Morgan Stanley lifted their price target on Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Wall Street Zen downgraded Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Stifel Nicolaus set a $157.00 price target on Semtech in a report on Thursday. Finally, Benchmark lifted their price target on Semtech from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $113.50.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.