Aviva PLC Decreases Stock Position in Semtech Co. (NASDAQ:SMTC)

Aviva PLC trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC – Get Rating) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,264 shares of the semiconductor company’s stock after selling 8,449 shares during the period. Aviva PLC’s holdings in Semtech were worth $1,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SMTC. Neo Ivy Capital Management purchased a new stake in shares of Semtech during the second quarter valued at $41,000. UMB Bank n.a. bought a new stake in shares of Semtech in the fourth quarter worth approximately $28,000. Captrust Financial Advisors grew its stake in shares of Semtech by 186.5% in the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 664 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Semtech during the first quarter valued at approximately $84,000. Finally, Covestor Ltd lifted its position in Semtech by 123.9% during the first quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 773 shares during the period. Institutional investors own 96.32% of the company’s stock.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of research reports. B. Riley reiterated a “buy” rating and set a $52.00 target price on shares of Semtech in a research note on Thursday, March 30th. Susquehanna lowered their target price on Semtech from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, March 30th. Stifel Nicolaus cut their price target on Semtech from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Northland Securities began 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, Robert W. Baird dropped their price objective on shares of Semtech from $48.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.67.

Semtech Stock Down 1.2 %

Shares of SMTC stock opened at $21.21 on Friday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.09 and a beta of 1.69. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.82 and a quick ratio of 1.30. The company’s fifty day moving average price is $23.36 and its 200-day moving average price is $27.88. Semtech Co. has a one year low of $17.82 and a one year high of $65.51.

Semtech Company 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.