Allspring Global Investments Holdings LLC Has $11.71 Million Stake in Semtech Corporation $SMTC

Allspring Global Investments Holdings LLC increased its position in Semtech Corporation (NASDAQ:SMTC) by 21.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,576 shares of the semiconductor company’s stock after purchasing an additional 27,781 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.17% of Semtech worth $11,709,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 360 shares during the period. Salomon & Ludwin LLC bought a new position in Semtech during the third quarter worth about $41,000. AlphaQuest LLC lifted its stake in Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp boosted its holdings in Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 235 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 576 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on SMTC. Susquehanna boosted their price target on Semtech from $90.00 to $100.00 and gave the company a “positive” rating in a research note on Monday, March 9th. Oppenheimer increased their price objective on Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Benchmark restated a “buy” rating and issued a $115.00 target price on shares of Semtech in a research note on Tuesday, March 17th. Finally, Weiss Ratings lowered shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 974 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total transaction of $76,381.08. Following the sale, the chief financial officer directly owned 33,343 shares of the company’s stock, valued at $2,614,758.06. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the sale, the executive vice president directly owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This represents a 45.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 56,518 shares of company stock worth $4,643,233. 0.48% of the stock is owned by insiders.

Semtech Stock Performance

Shares of SMTC opened at $82.65 on Monday. The stock has a fifty day moving average price of $83.87 and a two-hundred day moving average price of $75.72. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $96.46. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -187.84 and a beta of 2.06.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. Analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.