Schroder Investment Management Group Invests $27.25 Million in Semtech Co. (NASDAQ:SMTC)

Schroder Investment Management Group purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 441,715 shares of the semiconductor company’s stock, valued at approximately $27,254,000. Schroder Investment Management Group owned 0.58% of Semtech as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new stake in shares of Semtech during the 3rd quarter valued at $487,000. Glenmede Trust Co. NA purchased a new stake in shares of Semtech during the third quarter worth $304,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $18,940,000 after purchasing an additional 275,717 shares during the last quarter. Captrust Financial Advisors purchased a new position in Semtech in the third quarter valued at about $333,000. Finally, Portolan Capital Management LLC grew its stake in Semtech by 46.5% in the third quarter. Portolan Capital Management LLC now owns 94,036 shares of the semiconductor company’s stock valued at $4,294,000 after purchasing an additional 29,854 shares in the last quarter.

Semtech Price Performance

SMTC stock opened at $36.62 on Thursday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -2.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The company has a 50-day moving average of $43.50 and a two-hundred day moving average of $50.91. Semtech Co. has a 52-week low of $27.25 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC) last announced 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 business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. Semtech’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. Equities analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SMTC. Craig Hallum reduced their price target on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a report on Friday, March 14th. Northland Securities lifted their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Stifel Nicolaus dropped their price target 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. Robert W. Baird cut their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average price target of $61.55.

Insider Activity

In other news, CFO Mark Lin sold 10,890 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the completion of the transaction, the chief financial officer now owns 11,625 shares of the company’s stock, valued at approximately $403,155. This represents a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction dated 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 directly owns 14 shares in the company, valued at approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,484 shares of company stock valued at $993,933. 0.60% of the stock is owned by company insiders.

About Semtech

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.