Strs Ohio Boosts Stock Position in Semtech Corporation $SMTC

Strs Ohio boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 558.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,100 shares of the semiconductor company’s stock after purchasing an additional 40,800 shares during the quarter. Strs Ohio owned about 0.05% of Semtech worth $3,544,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of Semtech by 12,214.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after acquiring an additional 2,565 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Semtech by 11.5% in the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Semtech by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after purchasing an additional 22,629 shares during the period. Cetera Investment Advisers purchased a new stake in Semtech during the 2nd quarter valued at $226,000. Finally, American Century Companies Inc. purchased a new position in Semtech during the second quarter worth $497,000.

Semtech Trading Up 5.5%

Shares of NASDAQ SMTC opened at $112.98 on Wednesday. Semtech Corporation has a twelve month low of $33.06 and a twelve month high of $113.18. The firm has a market cap of $10.52 billion, a PE ratio of -256.77 and a beta of 2.22. The business has a fifty day simple moving average of $88.82 and a two-hundred day simple moving average of $80.11. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89.

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

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 9,186 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total value of $689,409.30. Following the completion of the sale, the chief financial officer owned 32,710 shares in the company, valued at approximately $2,454,885.50. The trade was a 21.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Burvill sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares of the company’s stock, valued at $392,312.82. The trade was a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 46,384 shares of company stock worth $3,920,140. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Needham & Company LLC raised their price objective on shares of Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Morgan Stanley increased their price target on Semtech from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Finally, Susquehanna raised their price target on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research note on Monday, March 9th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Semtech currently has an average rating of “Moderate Buy” and an average target price of $95.71.

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.