Royce & Associates LP Purchases New Stake in Semtech Corporation $SMTC

Royce & Associates LP acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,014 shares of the semiconductor company’s stock, valued at approximately $3,145,000. Royce & Associates LP owned about 0.05% of Semtech at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its stake in shares of Semtech by 78.4% in the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 287 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 360 shares during the period. Salomon & Ludwin LLC acquired a new position in Semtech in the third quarter valued at approximately $41,000. AlphaQuest LLC boosted its stake in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 173 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Semtech by 65.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 235 shares during the period.

Insider Activity at Semtech

In related news, insider John Michael Wilson sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $75.12, for a total transaction of $375,600.00. Following the completion of the sale, the insider directly owned 60,066 shares of the company’s stock, valued at approximately $4,512,157.92. This represents a 7.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Saar Gillai sold 3,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $75.26, for a total transaction of $270,936.00. Following the sale, the director owned 9,523 shares in the company, valued at $716,700.98. This trade represents a 27.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,967 shares of company stock valued at $2,236,108 over the last 90 days. Insiders own 0.48% of the company’s stock.

Semtech Stock Performance

Shares of Semtech stock opened at $87.08 on Friday. The stock’s fifty day simple moving average is $82.50 and its 200 day simple moving average is $72.21. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $8.06 billion, a PE ratio of 280.90 and a beta of 1.99. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $96.46.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMTC. Stifel Nicolaus increased their price target on Semtech from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Summit Insights raised Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Morgan Stanley set a $67.00 target price on Semtech in a research note on Tuesday, November 25th. Robert W. Baird raised their target price on Semtech from $70.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Finally, TD Cowen restated a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.36.

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.