MetLife Investment Management LLC Has $2.18 Million Position in Semtech Co. (NASDAQ:SMTC)

MetLife Investment Management LLC boosted its holdings in Semtech Co. (NASDAQ:SMTC – Get Rating) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,069 shares of the semiconductor company’s stock after buying an additional 1,258 shares during the period. MetLife Investment Management LLC owned approximately 0.12% of Semtech worth $2,178,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SMTC. Cambridge Investment Research Advisors Inc. acquired a new position in Semtech in the first quarter valued at approximately $248,000. Bank of Montreal Can raised its holdings in Semtech by 24.8% in the first quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 1,089 shares during the period. Rhumbline Advisers raised its holdings in Semtech by 2.2% in the first quarter. Rhumbline Advisers now owns 180,638 shares of the semiconductor company’s stock worth $12,525,000 after purchasing an additional 3,874 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Semtech by 10.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,975 shares of the semiconductor company’s stock worth $1,662,000 after purchasing an additional 2,265 shares during the period. Finally, BlackRock Inc. raised its holdings in Semtech by 3.7% in the first quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock worth $496,515,000 after purchasing an additional 257,224 shares during the period. 96.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SMTC shares. Cowen cut their target price on shares of Semtech from $43.00 to $33.00 in a report on Thursday, December 1st. Cowen cut their target price on shares of Semtech from $43.00 to $33.00 in a report on Thursday, December 1st. Piper Sandler cut their target price on shares of Semtech from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. StockNews.com upgraded shares of Semtech from a “hold” rating to a “buy” rating in a report on Wednesday, February 22nd. Finally, Susquehanna Bancshares dropped their price objective on shares of Semtech to $34.00 in a report on Monday, November 28th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.08.

Semtech Stock Down 1.7 %

Semtech stock opened at $30.52 on Monday. The company has a market cap of $1.95 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.69. Semtech Co. has a 1-year low of $25.29 and a 1-year high of $73.48. The company has a fifty day simple moving average of $31.01 and a 200 day simple moving average of $32.38. The company has a current ratio of 5.96, a quick ratio of 5.17 and a debt-to-equity ratio of 0.57.

Semtech (NASDAQ:SMTC – Get Rating) last released its earnings results on Wednesday, November 30th. The semiconductor company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Semtech had a net margin of 18.88% and a return on equity of 21.15%. The business had revenue of $177.62 million during the quarter, compared to the consensus estimate of $176.03 million. Research analysts anticipate that Semtech Co. will post 2.3 earnings per share for the current fiscal year.

Semtech Profile

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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.