MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 3,616 Shares of Semtech Co. (NASDAQ:SMTC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Semtech Co. (NASDAQ:SMTC) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,156 shares of the semiconductor company’s stock after buying an additional 3,616 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Semtech were worth $4,587,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hollencrest Capital Management bought a new position in Semtech during the fourth quarter worth $31,000. Dunhill Financial LLC bought a new position in Semtech during the fourth quarter worth $31,000. Smartleaf Asset Management LLC raised its stake in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after buying an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in Semtech during the fourth quarter worth $52,000. Finally, AlphaQuest LLC raised its stake in Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after buying an additional 772 shares during the last quarter.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $40.42 on Monday. The stock has a market capitalization of $3.50 billion, a P/E ratio of -3.10, a P/E/G ratio of 2.12 and a beta of 1.88. The company has a 50-day moving average price of $33.04 and a 200-day moving average price of $47.71. Semtech Co. has a 1 year low of $24.05 and a 1 year high of $79.52.

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

Insider Activity at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the transaction, the chief financial officer now directly owns 13,481 shares of the company’s stock, valued at $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 available at this link. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Semtech Company 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.