Semtech Corporation $SMTC Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Semtech Corporation (NASDAQ:SMTC) by 9.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,123,903 shares of the semiconductor company’s stock after acquiring an additional 178,319 shares during the period. Geode Capital Management LLC’s holdings in Semtech were worth $95,884,000 as of its most recent SEC filing.

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

Semtech Stock Performance

NASDAQ:SMTC opened at $63.85 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 266.04 and a beta of 2.03. The firm’s fifty day moving average price is $67.03 and its 200 day moving average price is $53.89. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $79.52.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several research analyst reports. Wall Street Zen downgraded Semtech from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. TD Cowen began coverage on shares of Semtech in a research note on Wednesday, October 1st. They set a “buy” rating and a $75.00 price target for the company. Northland Securities raised their price objective on shares of Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 26th. Needham & Company LLC lifted their price objective on shares of Semtech from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Finally, Cowen began coverage on shares of Semtech in a research note on Tuesday, September 30th. They set a “buy” rating for the company. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.93.

Insider Activity

In other news, Director Martin Burvill sold 3,500 shares of Semtech stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the sale, the director owned 6,909 shares of the company’s stock, valued at $433,539.75. The trade was a 33.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Lin sold 971 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $72.83, for a total transaction of $70,717.93. Following the transaction, the chief financial officer directly owned 17,844 shares of the company’s stock, valued at $1,299,578.52. This represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,971 shares of company stock valued at $323,463 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

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.