Captrust Financial Advisors Acquires 21,102 Shares of Semtech Co. (NASDAQ:SMTC)

Captrust Financial Advisors lifted its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 288.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,405 shares of the semiconductor company's stock after purchasing an additional 21,102 shares during the period. Captrust Financial Advisors' holdings in Semtech were worth $1,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SMTC. Principal Financial Group Inc. lifted its stake in shares of Semtech by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company's stock worth $16,187,000 after purchasing an additional 33,606 shares during the period. Moody National Bank Trust Division lifted its stake in shares of Semtech by 148.6% in the 4th quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company's stock worth $1,272,000 after purchasing an additional 12,296 shares during the period. Friedenthal Financial bought a new stake in Semtech during the 4th quarter worth approximately $755,000. Oak Ridge Investments LLC bought a new stake in Semtech during the 4th quarter worth approximately $2,146,000. Finally, Nisa Investment Advisors LLC raised its stake in Semtech by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company's stock worth $482,000 after acquiring an additional 870 shares during the period.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Semtech Price Performance

Semtech stock opened at $38.22 on Tuesday. The stock has a market cap of $3.31 billion, a P/E ratio of -2.93, 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. The firm's 50 day moving average price is $32.44 and its 200-day moving average price is $47.88.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The company's quarterly revenue was up 30.1% on a year-over-year basis. As a group, equities analysts expect that Semtech Co. will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $54.00 target price on shares of Semtech in a research note on Friday, March 14th. Stifel Nicolaus decreased their target price on shares of Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. UBS Group decreased their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Morgan Stanley initiated coverage on shares of Semtech in a research note on Monday, April 7th. They set an "equal weight" rating and a $30.00 target price on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $56.92.

Semtech Company Profile

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.

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