Semtech Co. (NASDAQ:SMTC) Stock Position Decreased by Putnam Investments LLC

Putnam Investments LLC decreased its position in Semtech Co. (NASDAQ:SMTC – Get Rating) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 39,798 shares of the semiconductor company’s stock after selling 724 shares during the period. Putnam Investments LLC’s holdings in Semtech were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd grew its position in Semtech by 88.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 2,076 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 976 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Semtech by 75.2% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 23,830 shares of the semiconductor company’s stock worth $1,310,000 after purchasing an additional 10,230 shares during the last quarter. M&G Investment Management Ltd. bought a new position in Semtech in the 3rd quarter worth about $1,303,000. Federated Hermes Inc. grew its position in Semtech by 2,792.2% in the 3rd quarter. Federated Hermes Inc. now owns 1,582,315 shares of the semiconductor company’s stock worth $46,536,000 after purchasing an additional 1,527,605 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Semtech in the 3rd quarter worth about $5,511,000. Institutional investors own 96.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SMTC. StockNews.com upgraded shares of Semtech from a “hold” rating to a “buy” rating in a research report on Wednesday, February 22nd. Susquehanna reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Semtech in a research note on Thursday, March 9th. Cowen reduced their price target on shares of Semtech from $43.00 to $33.00 in a research note on Thursday, December 1st. Cowen reduced their price target on shares of Semtech from $43.00 to $33.00 in a research note on Thursday, December 1st. Finally, Stifel Nicolaus reduced their price target on shares of Semtech from $45.00 to $40.00 in a research note on Tuesday, November 22nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Semtech presently has a consensus rating of “Hold” and an average price target of $49.08.

Semtech Stock Down 0.7 %

SMTC stock opened at $29.13 on Tuesday. Semtech Co. has a 12 month low of $25.29 and a 12 month high of $73.48. The firm has a market cap of $1.86 billion, a PE ratio of 12.72, a P/E/G ratio of 1.04 and a beta of 1.70. The firm has a 50 day simple moving average of $31.62 and a 200 day simple moving average of $30.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.96 and a quick ratio of 5.17.

About Semtech

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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.