5,820 Shares in Semtech Co. (NASDAQ:SMTC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,820 shares of the semiconductor company’s stock, valued at approximately $360,000.

Several other institutional investors also recently bought and sold shares of the business. Advisory Services Network LLC lifted its holdings in shares of Semtech by 109.5% during the 4th quarter. Advisory Services Network LLC now owns 14,859 shares of the semiconductor company’s stock valued at $919,000 after acquiring an additional 7,767 shares in the last quarter. Shelton Capital Management purchased a new position in Semtech in the fourth quarter valued at about $204,000. Legal & General Group Plc lifted its stake in shares of Semtech by 12.8% during the fourth quarter. Legal & General Group Plc now owns 230,949 shares of the semiconductor company’s stock worth $14,284,000 after purchasing an additional 26,172 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Semtech by 28.5% in the fourth quarter. Federated Hermes Inc. now owns 125,848 shares of the semiconductor company’s stock valued at $7,784,000 after buying an additional 27,916 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Semtech by 27.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 337 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SMTC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research report on Friday, March 14th. Morgan Stanley initiated coverage on shares of Semtech in a report on Monday, April 7th. They set an “equal weight” rating and a $30.00 price target for the company. Stifel Nicolaus cut their price objective on shares of Semtech from $54.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Robert W. Baird lowered their target price on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.92.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. The trade was a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Semtech Stock Performance

SMTC stock opened at $35.07 on Friday. The stock’s fifty day moving average is $32.41 and its two-hundred day moving average is $47.90. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.88. Semtech Co. has a 1 year low of $24.05 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data 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 firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

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.