Mirae Asset Global Investments Co. Ltd. Has $1.19 Million Stock Position in Semtech Co. (NASDAQ:SMTC)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Semtech Co. (NASDAQ:SMTC) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,313 shares of the semiconductor company’s stock after selling 1,560 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Semtech worth $1,190,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SMTC. Legato Capital Management LLC bought a new position in shares of Semtech during the fourth quarter worth approximately $201,000. SG Americas Securities LLC bought a new position in Semtech during the 4th quarter worth $164,000. Channel Wealth LLC acquired a new position in Semtech in the 4th quarter valued at $249,000. Wellington Management Group LLP lifted its position in shares of Semtech by 5.4% during the 3rd quarter. Wellington Management Group LLP now owns 595,101 shares of the semiconductor company’s stock valued at $15,324,000 after acquiring an additional 30,364 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in shares of Semtech by 202.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 44,675 shares of the semiconductor company’s stock worth $1,150,000 after purchasing an additional 29,927 shares in the last quarter.

Semtech Price Performance

Shares of SMTC opened at $32.07 on Tuesday. The business has a 50-day simple moving average of $25.50 and a two-hundred day simple moving average of $21.26. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $35.80. The stock has a market cap of $2.07 billion, a PE ratio of -1.89 and a beta of 1.85. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. The firm had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. Analysts anticipate that Semtech Co. will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In related news, CFO Mark Lin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was acquired at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $33,230. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMTC. Robert W. Baird boosted their price target on Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Needham & Company LLC upped their price target on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Northland Securities lifted their price objective on shares of Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research note on Monday, April 1st. Susquehanna boosted their price objective on shares of Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, April 1st. Finally, Stifel Nicolaus raised their target price on Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.85.

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.