Daiwa Securities Group Inc. Takes Position in Semtech Co. (NASDAQ:SMTC)

Daiwa Securities Group Inc. acquired a new position in shares of Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,360 shares of the semiconductor company’s stock, valued at approximately $3,609,000.

A number of other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Semtech by 22.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,939 shares of the semiconductor company’s stock valued at $1,171,000 after buying an additional 3,457 shares during the period. AlphaQuest LLC lifted its holdings in Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 772 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Semtech by 20.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,609 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 768 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in shares of Semtech in the fourth quarter worth about $1,237,000. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Semtech during the fourth quarter worth about $1,517,000.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $32.71 on Friday. The stock has a market capitalization of $2.48 billion, a PE ratio of -2.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech Co. has a 52 week low of $21.56 and a 52 week high of $79.52. The stock has a 50 day moving average price of $52.84 and a 200 day moving average price of $51.25.

Semtech (NASDAQ:SMTC) last released its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. Semtech’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. As a group, research analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $55.00 target price (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Craig Hallum raised their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. UBS Group initiated coverage on shares of Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 target price for the company. B. Riley increased their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Northland Securities boosted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $67.00.

Insider Activity

In related news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the sale, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. This represents a 98.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock valued at $1,472,726 in the last quarter. Company insiders own 0.60% of the company’s stock.

Semtech Company 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.