Semtech Co. (NASDAQ:SMTC) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its holdings in Semtech Co. (NASDAQ:SMTC) by 471.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,159 shares of the semiconductor company’s stock after acquiring an additional 168,426 shares during the quarter. BNP Paribas Financial Markets’ holdings in Semtech were worth $12,627,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after buying an additional 1,911,890 shares during the period. Vanguard Group Inc. raised its position in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after acquiring an additional 1,326,226 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Semtech in the 4th quarter worth approximately $51,315,000. Capital World Investors acquired a new stake in shares of Semtech during the 4th quarter worth approximately $37,110,000. Finally, Portolan Capital Management LLC increased its holdings in shares of Semtech by 609.5% during the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company’s stock valued at $41,267,000 after purchasing an additional 573,175 shares in the last quarter.

Semtech Stock Up 1.0 %

Shares of NASDAQ SMTC opened at $35.07 on Friday. The business’s 50 day moving average is $32.41 and its two-hundred day moving average is $47.90. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The firm 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 posted its quarterly earnings data 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 firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. Semtech’s quarterly revenue was up 30.1% compared to the same quarter last year. Analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on SMTC shares. Stifel Nicolaus cut their price objective on shares of Semtech from $54.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Morgan Stanley initiated coverage on Semtech in a report on Monday, April 7th. They issued an “equal weight” rating and a $30.00 price target for the company. UBS Group dropped their price objective on Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Semtech in a research note on Friday, March 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.92.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the sale, the chief financial officer now directly owns 13,481 shares in the company, valued at approximately $508,368.51. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.