84,675 Shares in Semtech Corporation $SMTC Purchased by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC opened a new position in Semtech, buying 84,675 shares in the fourth quarter worth about $6.24 million, according to its SEC filing.
• Analysts remain broadly positive on Semtech, with 14 Buy ratings, one Hold, and one Sell; the consensus view is Moderate Buy with an average price target of $113.50.
• Semtech reported quarterly EPS of $0.44, slightly ahead of estimates, while revenue rose 9.3% year over year to $274.4 million. The stock recently traded near $156.78, close to its 52-week high of $164.48.

Mizuho Markets Americas LLC bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 84,675 shares of the semiconductor company's stock, valued at approximately $6,240,000. Mizuho Markets Americas LLC owned approximately 0.09% of Semtech at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its stake in Semtech by 243.2% during 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 last quarter. AlphaQuest LLC boosted its stake in Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock valued at $41,000 after buying an additional 173 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock valued at $42,000 after buying an additional 235 shares during the last quarter. Assetmark Inc. boosted its stake in Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company's stock valued at $44,000 after buying an additional 576 shares during the last quarter. Finally, IFP Advisors Inc bought a new position in Semtech during the fourth quarter valued at approximately $53,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus set a $157.00 price target on Semtech in a research note on Thursday. Oppenheimer raised their price objective on Semtech from $110.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday. TD Cowen reaffirmed a "buy" rating on shares of Semtech in a research note on Tuesday, February 24th. Benchmark raised their price objective on Semtech from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen lowered Semtech from a "strong-buy" rating to a "buy" rating in a research note on Monday, January 26th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average price target of $113.50.

Insider Activity

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the completion of the sale, the director directly owned 23,279 shares of the company's stock, valued at approximately $3,217,390.59. This trade represents a 2.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $90.11, for a total value of $180,220.00. Following the sale, the chief executive officer directly owned 73,228 shares of the company's stock, valued at $6,598,575.08. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,884 shares of company stock worth $3,069,245 in the last three months. Corporate insiders own 0.48% of the company's stock.

Semtech Price Performance

Shares of SMTC stock opened at $156.78 on Friday. Semtech Corporation has a 52-week low of $34.59 and a 52-week high of $164.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. The firm has a market capitalization of $14.60 billion, a P/E ratio of -356.32 and a beta of 2.22. The stock has a 50 day moving average price of $100.99 and a 200 day moving average price of $86.11.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. During the same period last year, the company earned $0.40 EPS. Semtech's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Semtech Corporation will post 1.6 earnings per share for the current year.

About Semtech

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.

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