Schroder Investment Management Group Takes Position in Semtech Co. (NASDAQ:SMTC)

Schroder Investment Management Group purchased a new position in Semtech Co. (NASDAQ:SMTC) in the 4th quarter, Holdings Channel.com reports. The firm purchased 441,715 shares of the semiconductor company’s stock, valued at approximately $27,254,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Semtech by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after purchasing an additional 1,326,226 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Semtech in the 3rd quarter valued at $32,126,000. Burkehill Global Management LP bought a new stake in Semtech in the fourth quarter valued at $18,555,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Semtech by 198.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after acquiring an additional 275,717 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of Semtech during the fourth quarter valued at $15,180,000.

Insider Buying and Selling

In related news, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at $271,284.60. The trade was a 24.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now owns 76,417 shares of the company’s stock, valued at $5,349,190. This represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,484 shares of company stock valued at $993,933 over the last ninety days. Insiders own 0.60% of the company’s stock.

Semtech Stock Performance

Shares of SMTC opened at $36.62 on Thursday. The business’s fifty day moving average price is $43.50 and its two-hundred day moving average price is $50.91. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -2.81, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a 52 week low of $27.25 and a 52 week high of $79.52.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results 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 firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. Semtech’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, research analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SMTC. Benchmark lowered their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Stifel Nicolaus decreased their price objective on shares of Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. UBS Group cut their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Craig Hallum reduced their target price on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Northland Securities raised 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. Two 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.55.

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.