Janus Henderson Group PLC Buys 12,300 Shares of Semtech Co. (NASDAQ:SMTC)

Janus Henderson Group PLC increased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 39.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,285 shares of the semiconductor company’s stock after acquiring an additional 12,300 shares during the quarter. Janus Henderson Group PLC owned about 0.06% of Semtech worth $2,675,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SMTC. Nisa Investment Advisors LLC grew its position in shares of Semtech by 12.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 870 shares in the last quarter. SG Americas Securities LLC grew its holdings in Semtech by 643.7% during the 4th quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company’s stock valued at $3,545,000 after buying an additional 49,609 shares in the last quarter. Inspire Investing LLC increased its stake in Semtech by 119.7% in the 4th quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company’s stock worth $1,364,000 after acquiring an additional 12,016 shares during the last quarter. Accel Wealth Management purchased a new stake in shares of Semtech during the 4th quarter worth approximately $204,000. Finally, KBC Group NV boosted its position in shares of Semtech by 113.0% during the 4th quarter. KBC Group NV now owns 3,498 shares of the semiconductor company’s stock valued at $216,000 after acquiring an additional 1,856 shares during the last quarter.

Semtech Trading Down 2.0%

NASDAQ SMTC opened at $39.35 on Wednesday. The stock has a market cap of $3.41 billion, a PE ratio of -3.02, a PEG ratio of 2.12 and a beta of 1.88. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52. The company’s 50-day moving average price is $33.30 and its 200-day moving average price is $47.62.

Semtech (NASDAQ:SMTC) last released 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 company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. Semtech’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. As a group, sell-side analysts forecast that Semtech Co. will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $55.00 price target (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of Semtech in a report on Friday, March 14th. UBS Group lowered 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 objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley started coverage on Semtech in a research note on Monday, April 7th. They issued an “equal weight” rating and a $30.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.92.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 10,890 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the sale, the chief financial officer now owns 11,625 shares of the company’s stock, valued at approximately $403,155. This represents a 48.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

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.