Wellington Management Group LLP Has $132.55 Million Holdings in Semtech Co. (NASDAQ:SMTC)

Wellington Management Group LLP grew its holdings in Semtech Co. (NASDAQ:SMTC) by 827.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,143,081 shares of the semiconductor company’s stock after acquiring an additional 1,911,890 shares during the period. Wellington Management Group LLP’s holdings in Semtech were worth $132,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SMTC. Cerity Partners LLC acquired a new stake in Semtech during the 3rd quarter valued at $487,000. Glenmede Trust Co. NA acquired a new stake in shares of Semtech during the 3rd quarter worth about $304,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Semtech by 198.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after buying an additional 275,717 shares during the period. Captrust Financial Advisors acquired a new position in Semtech in the 3rd quarter valued at about $333,000. Finally, Stifel Financial Corp bought a new position in Semtech in the 3rd quarter valued at about $237,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SMTC shares. Benchmark decreased their target price on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Northland Securities upped their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. Finally, Stifel Nicolaus dropped their price objective on shares of Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.55.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 10,890 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the completion of the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. This represents a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,125 shares of company stock valued at $905,394. 0.60% of the stock is currently owned by corporate insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $29.71 on Friday. Semtech Co. has a 1 year low of $27.25 and a 1 year high of $79.52. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -2.28, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The company’s 50 day simple moving average is $42.57 and its 200 day simple moving average is $50.77.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal year.

About Semtech

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.