Vident Advisory LLC Purchases Shares of 5,875 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 bought a new stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,875 shares of the semiconductor company's stock, valued at approximately $202,000.

Several other large investors also recently added to or reduced their stakes in SMTC. NBC Securities Inc. raised its stake in Semtech by 104,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 1,047 shares during the period. Smartleaf Asset Management LLC raised its stake in Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 257 shares during the period. Versant Capital Management Inc raised its stake in Semtech by 58.5% during the 1st quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 553 shares during the period. Archer Investment Corp acquired a new stake in Semtech during the 1st quarter valued at $64,000. Finally, State of Wyoming acquired a new stake in Semtech during the 1st quarter valued at $90,000.

Semtech Trading Up 0.2%

Shares of NASDAQ:SMTC opened at $61.72 on Thursday. The stock has a market capitalization of $5.36 billion, a PE ratio of 257.17 and a beta of 1.98. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The firm has a fifty day moving average price of $52.37 and a 200 day moving average price of $41.57. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 999 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the sale, the chief financial officer directly owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Asaf Silberstein sold 2,000 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer owned 105,996 shares of the company's stock, valued at $4,555,708.08. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler boosted their target price 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. Stifel Nicolaus upped their price target on shares of Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC upped their price target on shares of Semtech from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Benchmark upped their price target on shares of Semtech from $68.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley set a $43.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and an average target price of $61.08.

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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