Assenagon Asset Management S.A. Raises Stock Holdings in Semtech Corporation $SMTC

Assenagon Asset Management S.A. raised its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 852.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 184,630 shares of the semiconductor company’s stock after acquiring an additional 165,244 shares during the period. Assenagon Asset Management S.A.’s holdings in Semtech were worth $13,605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its stake in shares of Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 360 shares during the period. Salomon & Ludwin LLC bought a new position in Semtech during the third quarter valued at approximately $41,000. AlphaQuest LLC lifted its position in Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp boosted its holdings in Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 235 shares during the last quarter. Finally, Assetmark Inc. grew its position in Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 576 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Craig Hallum boosted their target price on shares of Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Morgan Stanley lifted their price objective on Semtech from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Oppenheimer upped their price objective on Semtech from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. TD Cowen reissued a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Finally, Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Insider Transactions at Semtech

In other news, Director Saar Gillai sold 3,600 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $75.26, for a total value of $270,936.00. Following the transaction, the director owned 9,523 shares of the company’s stock, valued at $716,700.98. This trade represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Michael Fischer sold 1,034 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $75.50, for a total value of $78,067.00. Following the transaction, the director owned 2,857 shares of the company’s stock, valued at approximately $215,703.50. This trade represents a 26.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 49,377 shares of company stock valued at $4,055,452. Company insiders own 0.48% of the company’s stock.

Semtech Trading Down 7.3%

Shares of SMTC stock opened at $74.16 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.67. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -168.55 and a beta of 1.99. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $96.46. The firm has a fifty day moving average price of $84.03 and a 200-day moving average price of $74.86.

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

Semtech 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.