Deutsche Bank AG Buys 4,218 Shares of Semtech Co. (NASDAQ:SMTC)

Deutsche Bank AG boosted its position in Semtech Co. (NASDAQ:SMTC) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 451,436 shares of the semiconductor company’s stock after acquiring an additional 4,218 shares during the quarter. Deutsche Bank AG owned 0.60% of Semtech worth $27,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in Semtech in the 4th quarter worth $31,000. Dunhill Financial LLC purchased a new position in shares of Semtech in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC boosted its holdings in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Semtech in the fourth quarter worth $52,000. Finally, AlphaQuest LLC increased its holdings in Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 772 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMTC. Benchmark reduced their target price on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Craig Hallum reduced their price target on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective on shares of Semtech in a report on Friday, March 14th. Stifel Nicolaus decreased their target price on Semtech from $54.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler reissued an “overweight” rating and set a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.92.

Semtech Stock Performance

Shares of Semtech stock opened at $39.93 on Thursday. The company has a 50-day simple moving average of $32.71 and a two-hundred day simple moving average of $47.77. The stock has a market capitalization of $3.46 billion, a PE ratio of -3.06, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. Semtech’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. As a group, equities research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 10,890 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the transaction, the chief financial officer now owns 11,625 shares in the company, valued at $403,155. This represents a 48.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently 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.