Semtech Corporation $SMTC Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC lessened its holdings in Semtech Corporation (NASDAQ:SMTC) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,429 shares of the semiconductor company’s stock after selling 1,475 shares during the quarter. Moody Aldrich Partners LLC owned about 0.11% of Semtech worth $4,398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Westfield Capital Management Co. LP purchased a new stake in shares of Semtech in the 1st quarter valued at $45,489,000. Ameriprise Financial Inc. raised its holdings in shares of Semtech by 15.8% during the first quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company’s stock worth $221,737,000 after purchasing an additional 877,422 shares during the last quarter. Nuveen LLC acquired a new position in Semtech during the first quarter valued at $27,940,000. Invesco Ltd. boosted its holdings in Semtech by 74.0% in the first quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company’s stock valued at $61,926,000 after purchasing an additional 765,558 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Semtech by 168.1% during the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock worth $41,627,000 after purchasing an additional 758,642 shares during the period.

Insider Activity at Semtech

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $66.24, for a total transaction of $33,120.00. Following the completion of the sale, the director directly owned 26,779 shares in the company, valued at approximately $1,773,840.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Burvill sold 3,500 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the transaction, the director directly owned 6,909 shares of the company’s stock, valued at approximately $433,539.75. This represents a 33.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,971 shares of company stock valued at $323,463. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SMTC has been the subject of several analyst reports. UBS Group boosted their price objective on Semtech from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday. TD Cowen started coverage on Semtech in a research report on Wednesday, October 1st. They set a “buy” rating and a $75.00 price target for the company. Stifel Nicolaus set a $80.00 price objective on Semtech in a research report on Wednesday, October 1st. Benchmark raised their price objective on shares of Semtech from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Finally, Piper Sandler lifted their target price on shares of Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Semtech Price Performance

Semtech stock opened at $67.81 on Friday. The stock has a market capitalization of $5.88 billion, a P/E ratio of 282.54 and a beta of 2.01. The company’s fifty day moving average price is $64.19 and its 200 day moving average price is $49.61. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52.

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.