Vident Advisory LLC Makes New $202,000 Investment in Semtech Corporation $SMTC

Key Points

• Vident Advisory LLC has purchased 5,875 shares of Semtech Corporation, valued at approximately $202,000, signifying increased institutional interest in the semiconductor company.
• Several large investors, including NBC Securities Inc. and Smartleaf Asset Management LLC, have significantly raised their stakes in Semtech during the 1st quarter, indicating a bullish sentiment among investors.
• Analyst ratings for Semtech have improved, with Piper Sandler increasing their target price from $55.00 to $65.00 and eleven analysts now rating the stock as a "Buy."

Vident Advisory LLC acquired a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,875 shares of the semiconductor company's stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Semtech by 4.2% in 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 in the last quarter. Deutsche Bank AG grew its position in Semtech by 168.1% in the first quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company's stock valued at $41,627,000 after acquiring an additional 758,642 shares during the last quarter. Wellington Management Group LLP raised its stake in Semtech by 7.9% during the first quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company's stock worth $79,575,000 after acquiring an additional 170,132 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Semtech by 164.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,192 shares of the semiconductor company's stock valued at $419,000 after purchasing an additional 7,583 shares in the last quarter.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of research analyst reports. Benchmark upped their price objective on shares of Semtech from $68.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Craig Hallum increased their price target on Semtech from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Needham & Company LLC raised their price objective on Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Morgan Stanley set a $43.00 target price on Semtech in a report on Wednesday, May 28th. Finally, Stifel Nicolaus lifted their price target on Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $61.08.

Semtech Trading Down 0.1%

SMTC traded down $0.08 during midday trading on Tuesday, hitting $62.55. 1,572,833 shares of the company were exchanged, compared to its average volume of 1,979,402. The firm's 50 day moving average price is $53.75 and its 200-day moving average price is $42.28. 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 $5.43 billion, a P/E ratio of 260.63 and a beta of 1.98. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94.

Insider Buying and Selling

In related news, CFO Mark Lin sold 999 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the sale, the chief financial officer directly owned 17,211 shares in the company, valued at $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the transaction, the chief operating officer owned 105,996 shares of the company's stock, valued at approximately $4,555,708.08. The trade was a 1.85% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Semtech 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.