Russell Investments Group Ltd. Has $6.24 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Russell Investments Group Ltd. boosted its stake in Semtech Co. (NASDAQ:SMTC – Get Rating) by 32.7% in the fourth quarter, HoldingsChannel reports. The firm owned 217,465 shares of the semiconductor company’s stock after buying an additional 53,591 shares during the period. Russell Investments Group Ltd.’s holdings in Semtech were worth $6,239,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Miracle Mile Advisors LLC grew its holdings in Semtech by 118.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 34,895 shares of the semiconductor company’s stock worth $1,001,000 after purchasing an additional 18,895 shares during the period. Point72 Hong Kong Ltd grew its holdings in Semtech by 88.7% in the third 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 period. Ellevest Inc. lifted its stake in shares of Semtech by 224.0% in the fourth quarter. Ellevest Inc. now owns 9,749 shares of the semiconductor company’s stock valued at $280,000 after buying an additional 6,740 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Semtech by 2,792.2% in the third quarter. Federated Hermes Inc. now owns 1,582,315 shares of the semiconductor company’s stock valued at $46,536,000 after buying an additional 1,527,605 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Semtech in the third quarter valued at $10,929,000. 96.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SMTC has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Semtech from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Susquehanna dropped their price objective on shares of Semtech from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 30th. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Semtech in a research note on Friday, March 31st. Northland Securities initiated coverage on shares of Semtech in a research note on Tuesday, April 11th. They issued an “outperform” rating and a $32.00 price objective on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Semtech in a research note on Thursday, March 30th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Semtech has a consensus rating of “Hold” and an average price target of $44.67.

Semtech Stock Performance

Shares of SMTC stock opened at $19.12 on Tuesday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 19.92 and a beta of 1.69. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.30 and a current ratio of 1.82. Semtech Co. has a 52 week low of $17.82 and a 52 week high of $65.51. The firm’s 50-day simple moving average is $24.12 and its two-hundred day simple moving average is $28.09.

Semtech Profile

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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.