Semtech Co. (NASDAQ:SMTC) Position Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in shares of Semtech Co. (NASDAQ:SMTCFree Report) by 140.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,907 shares of the semiconductor company’s stock after purchasing an additional 128,322 shares during the quarter. Allianz Asset Management GmbH owned about 0.34% of Semtech worth $4,818,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SMTC. Swiss National Bank lifted its holdings in shares of Semtech by 1.2% in the third quarter. Swiss National Bank now owns 140,600 shares of the semiconductor company’s stock valued at $3,620,000 after buying an additional 1,600 shares during the period. Barclays PLC boosted its position in shares of Semtech by 4.9% during the 3rd quarter. Barclays PLC now owns 43,595 shares of the semiconductor company’s stock valued at $1,123,000 after purchasing an additional 2,039 shares in the last quarter. ORG Partners LLC grew its stake in shares of Semtech by 16.3% in the 4th quarter. ORG Partners LLC now owns 17,409 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 2,440 shares during the last quarter. Cape Investment Advisory Inc. acquired a new position in shares of Semtech in the 4th quarter worth approximately $63,000. Finally, Northern Trust Corp raised its holdings in shares of Semtech by 0.7% in the 3rd quarter. Northern Trust Corp now owns 815,491 shares of the semiconductor company’s stock worth $20,999,000 after purchasing an additional 5,858 shares in the last quarter.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at $33,230. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SMTC. Oppenheimer restated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Craig Hallum upped their target price on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, April 1st. B. Riley increased their price target on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Northland Securities upped 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. Finally, Needham & Company LLC lifted their target price on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. One research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.35.

View Our Latest Research Report on Semtech

Semtech Trading Up 3.5 %

SMTC stock opened at $38.68 on Thursday. The company has a 50 day moving average of $35.98 and a two-hundred day moving average of $25.96. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $42.61.

Semtech (NASDAQ:SMTCGet Free Report) last released its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $191.24 million. As a group, research analysts predict that Semtech Co. will post -0.08 EPS for the current year.

Semtech Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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