M&G Investment Management Ltd. Boosts Stock Position in Semtech Co. (NASDAQ:SMTC)

Posted by on Apr 11th, 2023

M&G Investment Management Ltd. boosted its stake in shares of Semtech Co. (NASDAQ:SMTC – Get Rating) by 84.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,960 shares of the semiconductor company’s stock after buying an additional 38,027 shares during the period. M&G Investment Management Ltd. owned 0.13% of Semtech worth $2,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA purchased a new position in Semtech during the 2nd quarter valued at about $26,000. Neo Ivy Capital Management acquired a new stake in Semtech in the second quarter valued at $41,000. Fifth Third Bancorp increased its position in Semtech by 224.4% during the 3rd quarter. Fifth Third Bancorp now owns 837 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 579 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Semtech during the fourth quarter worth $28,000. Finally, Captrust Financial Advisors raised its stake in Semtech by 186.5% during the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 664 shares during the period. Hedge funds and other institutional investors own 96.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Benchmark reiterated a “buy” rating and issued a $45.00 price objective on shares of Semtech in a report on Friday, March 31st. Robert W. Baird dropped their price target on Semtech from $48.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, March 31st. Susquehanna reduced their target price on shares of Semtech from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 30th. Stifel Nicolaus cut their price target on Semtech from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, March 30th. Finally, StockNews.com cut shares of Semtech from a “buy” rating to a “hold” rating in a research report on Thursday, March 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Semtech has a consensus rating of “Hold” and a consensus price target of $46.27.

Semtech Price Performance

NASDAQ:SMTC opened at $21.52 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.82 and a quick ratio of 1.30. Semtech Co. has a 1 year low of $21.07 and a 1 year high of $65.51. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 8.82 and a beta of 1.70. The business has a 50 day simple moving average of $30.07 and a 200-day simple moving average of $29.47.

Semtech Company Profile

(Get Rating)

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

Read More

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.