Citigroup Inc. Purchases 36,696 Shares of Semtech Co. (NASDAQ:SMTC)

Citigroup Inc. boosted its position in shares of Semtech Co. (NASDAQ:SMTC – Get Rating) by 106.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,129 shares of the semiconductor company’s stock after acquiring an additional 36,696 shares during the period. Citigroup Inc. owned approximately 0.11% of Semtech worth $2,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FORA Capital LLC increased its stake in Semtech by 234.2% during the fourth quarter. FORA Capital LLC now owns 24,129 shares of the semiconductor company’s stock valued at $692,000 after acquiring an additional 16,910 shares during the period. UBS Group AG increased its stake in Semtech by 851.6% during the fourth quarter. UBS Group AG now owns 52,548 shares of the semiconductor company’s stock valued at $1,508,000 after acquiring an additional 47,026 shares during the period. Thrivent Financial for Lutherans increased its stake in Semtech by 19.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 81,755 shares of the semiconductor company’s stock valued at $2,345,000 after acquiring an additional 13,507 shares during the period. Swiss National Bank increased its stake in Semtech by 1.9% during the fourth quarter. Swiss National Bank now owns 153,300 shares of the semiconductor company’s stock valued at $4,398,000 after acquiring an additional 2,800 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Semtech by 32.7% during the fourth quarter. Russell Investments Group Ltd. now owns 217,465 shares of the semiconductor company’s stock valued at $6,239,000 after acquiring an additional 53,591 shares during the period. 96.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SMTC shares. B. Riley reaffirmed a “buy” rating and set a $52.00 price objective on shares of Semtech in a report on Thursday, March 30th. Stifel Nicolaus decreased their price objective on Semtech from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Susquehanna decreased their price objective on Semtech from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, March 30th. Robert W. Baird decreased their price objective on Semtech from $48.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Finally, Northland Securities initiated coverage on Semtech in a report on Tuesday, April 11th. They set an “outperform” rating and a $32.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.67.

Semtech Stock Performance

SMTC stock opened at $21.15 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.82 and a quick ratio of 1.30. The company has a 50 day moving average price of $22.69 and a 200 day moving average price of $27.72. Semtech Co. has a fifty-two week low of $17.82 and a fifty-two week high of $65.51. The stock has a market capitalization of $1.35 billion, a PE ratio of 22.03 and a beta of 1.69.

Semtech Profile

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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.