SG Americas Securities LLC Acquires 43,834 Shares of Semtech Corporation $SMTC

SG Americas Securities LLC lifted its holdings in Semtech Corporation (NASDAQ:SMTC) by 68.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,825 shares of the semiconductor company’s stock after purchasing an additional 43,834 shares during the quarter. SG Americas Securities LLC owned 0.12% of Semtech worth $7,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hantz Financial Services Inc. raised its position in Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after buying an additional 360 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Semtech during the 3rd quarter valued at about $41,000. AlphaQuest LLC raised its holdings in shares of 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 last quarter. Jones Financial Companies Lllp raised its holdings in shares of 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 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

Several research firms have recently weighed in on SMTC. Oppenheimer increased their price target on Semtech from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Stifel Nicolaus increased their target price on Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Susquehanna raised their target price on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Finally, Weiss Ratings lowered shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, March 24th. Fourteen 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’s stock. Based on data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Insider Activity

In other Semtech news, Director Gregory Michael Fischer sold 1,034 shares of Semtech stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $75.50, for a total transaction of $78,067.00. Following the transaction, the director owned 2,857 shares of the company’s stock, valued at $215,703.50. The trade was a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Asaf Silberstein sold 10,000 shares of Semtech stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $92.00, for a total transaction of $920,000.00. Following the transaction, the chief operating officer directly owned 68,496 shares in the company, valued at $6,301,632. This represents a 12.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,377 shares of company stock worth $4,055,452. 0.48% of the stock is currently owned by corporate insiders.

Semtech Trading Down 2.1%

NASDAQ:SMTC opened at $70.61 on Tuesday. Semtech Corporation has a one year low of $24.05 and a one year high of $96.46. The business has a fifty day moving average price of $83.78 and a 200-day moving average price of $75.20. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -160.48 and a beta of 1.99. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.Semtech’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Sell-side analysts forecast that Semtech Corporation will post -0.02 EPS for the current 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.