Inspire Advisors LLC Lowers Position in Semtech Co. (NASDAQ:SMTC)

Inspire Advisors LLC lowered its holdings in Semtech Co. (NASDAQ:SMTC) by 21.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,826 shares of the semiconductor company’s stock after selling 15,067 shares during the period. Semtech makes up 0.4% of Inspire Advisors LLC’s investment portfolio, making the stock its 25th largest position. Inspire Advisors LLC owned about 0.07% of Semtech worth $3,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SMTC. Van ECK Associates Corp bought a new position in shares of Semtech during the 3rd quarter valued at about $125,000. Amalgamated Bank increased its position in shares of Semtech by 10.1% during the 3rd quarter. Amalgamated Bank now owns 21,694 shares of the semiconductor company’s stock valued at $991,000 after purchasing an additional 1,995 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Semtech by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company’s stock valued at $16,187,000 after purchasing an additional 33,606 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Semtech during the 3rd quarter valued at about $201,000. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Semtech by 16.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 53,567 shares of the semiconductor company’s stock valued at $2,446,000 after purchasing an additional 7,747 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on SMTC. Robert W. Baird reduced their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Northland Securities raised their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, B. Riley raised their price target on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.91.

Semtech Stock Performance

Shares of SMTC stock opened at $31.44 on Tuesday. The firm has a market cap of $2.38 billion, a P/E ratio of -2.41, a P/E/G ratio of 2.12 and a beta of 1.69. Semtech Co. has a fifty-two week low of $21.56 and a fifty-two week high of $79.52. The business’s 50 day moving average price is $54.00 and its 200-day moving average price is $51.40.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 10,890 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the transaction, the chief financial officer now owns 11,625 shares in the company, valued at $403,155. This trade represents a 48.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,637 shares of company stock worth $1,472,726. 0.60% of the stock is currently owned by insiders.

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.