18,920 Shares in Semtech Corporation $SMTC Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC has acquired a new stake in Semtech Corporation, purchasing 18,920 shares valued at approximately $854,000 during the second quarter.
• Several large investors, including KBC Group NV and Moody Aldrich Partners LLC, have also adjusted their stakes in Semtech, indicating increased interest in the semiconductor company.
• Analysts have recently upgraded Semtech's stock ratings and set new price targets, with Oppenheimer noting a target of $81.00 and a consensus price target of $65.36 among fourteen investment analysts.

Janney Montgomery Scott LLC bought a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,920 shares of the semiconductor company's stock, valued at approximately $854,000.

Several other large investors have also added to or reduced their stakes in the business. Archford Capital Strategies LLC acquired a new stake in Semtech in the first quarter valued at approximately $1,061,000. KBC Group NV boosted its holdings in shares of Semtech by 16.8% in the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock worth $140,000 after purchasing an additional 586 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Semtech during the 1st quarter valued at about $430,000. Principal Financial Group Inc. raised its position in Semtech by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock valued at $14,722,000 after purchasing an additional 17,345 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its position in shares of Semtech by 75.6% in the 1st quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company's stock worth $3,402,000 after acquiring an additional 42,587 shares in the last quarter.

Insider Activity at Semtech

In other news, Director Martin Burvill sold 3,500 shares of Semtech stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the sale, the director owned 6,909 shares of the company's stock, valued at approximately $433,539.75. The trade was a 33.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Lin sold 971 shares of Semtech stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the completion of the sale, the chief financial officer owned 17,844 shares of the company's stock, valued at $1,299,578.52. This trade represents a 5.16% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on SMTC. Oppenheimer upgraded Semtech from a "market perform" rating to an "outperform" rating and set a $81.00 target price on the stock in a research note on Tuesday, September 30th. Stifel Nicolaus set a $80.00 price target on Semtech in a research report on Wednesday, October 1st. Needham & Company LLC boosted their target price on Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Piper Sandler boosted their price objective on shares of Semtech from $55.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, Benchmark upped their price target on Semtech from $68.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Semtech currently has an average rating of "Moderate Buy" and a consensus price target of $65.36.

Semtech Price Performance

SMTC stock opened at $67.63 on Wednesday. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The firm has a market capitalization of $5.87 billion, a PE ratio of 281.79 and a beta of 2.01. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. The business has a 50 day simple moving average of $59.79 and a 200-day simple moving average of $46.36.

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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