Inspire Investing LLC Grows Stock Holdings in Semtech Corporation $SMTC

Key Points

• Inspire Investing LLC increased its stock holdings in Semtech Corporation by 47.4% during the second quarter, now owning 31,634 shares valued at approximately $1.43 million.
• Several brokerages have issued positive ratings for Semtech, with target prices ranging from $53.00 to $81.00, reflecting a strong outlook from analysts.
• Insider transactions indicate a decrease in holdings for key executives, with Director Martin Burvill selling 3,500 shares and CFO Mark Lin selling 971 shares recently.

Inspire Investing LLC boosted its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 47.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,634 shares of the semiconductor company's stock after buying an additional 10,174 shares during the period. Inspire Investing LLC's holdings in Semtech were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SMTC. NBC Securities Inc. grew its stake in Semtech by 104,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock valued at $36,000 after buying an additional 1,047 shares in the last quarter. Handelsbanken Fonder AB grew its position in Semtech by 19.8% in the first quarter. Handelsbanken Fonder AB now owns 25,988 shares of the semiconductor company's stock worth $894,000 after acquiring an additional 4,300 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Semtech by 1,205.5% in the first quarter. Assenagon Asset Management S.A. now owns 471,966 shares of the semiconductor company's stock worth $16,236,000 after acquiring an additional 435,814 shares in the last quarter. Archford Capital Strategies LLC purchased a new position in Semtech in the first quarter worth $1,061,000. Finally, KBC Group NV grew its position in Semtech by 16.8% in the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock worth $140,000 after acquiring an additional 586 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMTC. Stifel Nicolaus set a $80.00 target price on shares of Semtech in a research report on Wednesday, October 1st. Oppenheimer raised shares of Semtech from a "market perform" rating to an "outperform" rating and set a $81.00 price target for the company in a research note on Tuesday, September 30th. Piper Sandler upped their price objective on shares of Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Northland Securities upped their price objective on shares of Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Finally, Cowen began coverage on shares of Semtech in a research note on Tuesday, September 30th. They set a "buy" rating for the company. 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 company. Based on data from MarketBeat, Semtech presently has an average rating of "Moderate Buy" and a consensus price target of $65.36.

Insider Transactions at Semtech

In related news, Director Martin Burvill sold 3,500 shares of the business's 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 completion of the transaction, the director owned 6,909 shares in the company, valued at $433,539.75. The trade was a 33.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Lin sold 971 shares of the business's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $72.83, for a total transaction of $70,717.93. Following the sale, the chief financial officer directly owned 17,844 shares in the company, valued at approximately $1,299,578.52. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Semtech Stock Performance

SMTC opened at $65.26 on Friday. The company has a fifty day moving average of $59.13 and a 200 day moving average of $45.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 271.92 and a beta of 2.01. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52.

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.

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