GW&K Investment Management LLC Takes Position in Semtech Corporation $SMTC

Key Points

• GW&K Investment Management bought a new position of 379,630 Semtech shares valued at about $27.1 million, representing roughly 0.44% ownership.
• Analysts have turned broadly positive—multiple firms raised price targets (e.g., Piper Sandler to $95, Baird to $88) and the consensus is a Moderate Buy with an average target of $81.36.
• Corporate insiders have been selling recently: COO Asaf Silberstein sold 10,000 shares at $92 (≈$920,000) and insiders disposed of 26,967 shares (~$2.24 million) in the past three months, while insiders still hold about 0.48% of the stock.

GW&K Investment Management LLC bought a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 379,630 shares of the semiconductor company's stock, valued at approximately $27,125,000. GW&K Investment Management LLC owned approximately 0.44% of Semtech as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its holdings in shares of Semtech by 55.7% during the 3rd quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company's stock valued at $19,839,000 after purchasing an additional 99,335 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Semtech by 24.4% in the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company's stock worth $7,992,000 after buying an additional 23,086 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Semtech in the third quarter worth about $4,318,000. Allspring Global Investments Holdings LLC bought a new position in Semtech during the third quarter valued at approximately $9,160,000. Finally, Emerald Advisers LLC purchased a new position in Semtech during the 3rd quarter valued at approximately $29,944,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SMTC. Robert W. Baird upped their price objective on Semtech from $70.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, November 25th. UBS Group reaffirmed a "buy" rating on shares of Semtech in a research note on Tuesday, November 25th. Piper Sandler reiterated an "overweight" rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Needham & Company LLC restated a "buy" rating and issued a $80.00 target price on shares of Semtech in a report on Tuesday, November 25th. Finally, Susquehanna upped their target price on shares of Semtech from $65.00 to $80.00 and gave the company a "positive" rating in a research report on Tuesday, November 18th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Semtech has a consensus rating of "Moderate Buy" and an average price target of $81.36.

Insider Activity

In other Semtech news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $78.25, for a total value of $39,125.00. Following the sale, the director owned 25,279 shares in the company, valued at $1,978,081.75. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Asaf Silberstein sold 10,000 shares of Semtech stock in a transaction on Monday, February 9th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the sale, the chief operating officer owned 68,496 shares of the company's stock, valued at approximately $6,301,632. This trade represents a 12.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,967 shares of company stock worth $2,236,108 in the last three months. Corporate insiders own 0.48% of the company's stock.

Semtech Stock Performance

Semtech stock opened at $87.08 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $8.06 billion, a P/E ratio of 280.90 and a beta of 1.99. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $96.46. The company's 50-day moving average is $82.50 and its 200 day moving average is $72.21.

Semtech Company Profile

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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