Allspring Global Investments Holdings LLC Purchases 27,781 Shares of Semtech Corporation $SMTC

Allspring Global Investments Holdings LLC increased its position in Semtech Corporation (NASDAQ:SMTC) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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’s holdings in Semtech were worth $11,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Semtech by 12,214.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after purchasing an additional 2,565 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock worth $323,000 after buying an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after buying an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in Semtech in the first quarter valued at approximately $65,000. Finally, Cetera Investment Advisers acquired a new position in Semtech in the second quarter valued at approximately $226,000.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 974 shares of Semtech stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total transaction of $76,381.08. Following the transaction, the chief financial officer directly owned 33,343 shares in the company, valued at approximately $2,614,758.06. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 10,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the chief operating officer directly owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. The trade was a 12.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 56,518 shares of company stock worth $4,643,233. 0.48% of the stock is owned by corporate insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $82.65 on Monday. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $96.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. The company has a market capitalization of $7.68 billion, a PE ratio of -187.84 and a beta of 2.06. The company has a 50 day moving average price of $83.87 and a two-hundred day moving average price of $75.72.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SMTC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price objective (up from $70.00) on shares of Semtech in a research note on Thursday, December 11th. Stifel Nicolaus increased their price target on Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Benchmark restated a “buy” rating and issued a $115.00 price target on shares of Semtech in a research report on Tuesday, March 17th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Finally, Craig Hallum upped their price objective on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.14.

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.