Citigroup Inc. Has $2.04 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Citigroup Inc. lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC – Get Rating) by 106.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,129 shares of the semiconductor company’s stock after buying an additional 36,696 shares during the period. Citigroup Inc.’s holdings in Semtech were worth $2,041,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SMTC. Cambridge Investment Research Advisors Inc. acquired a new stake in Semtech in the 1st quarter valued at about $248,000. Bank of Montreal Can lifted its stake in Semtech by 24.8% in the 1st quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock valued at $397,000 after purchasing an additional 1,089 shares during the last quarter. Rhumbline Advisers lifted its stake in Semtech by 2.2% in the 1st quarter. Rhumbline Advisers now owns 180,638 shares of the semiconductor company’s stock valued at $12,525,000 after purchasing an additional 3,874 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Semtech by 10.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,975 shares of the semiconductor company’s stock valued at $1,662,000 after purchasing an additional 2,265 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Semtech by 3.7% in the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock valued at $496,515,000 after purchasing an additional 257,224 shares during the last quarter. 96.32% of the stock is currently owned by institutional investors and hedge funds.

Semtech Stock Performance

Shares of Semtech stock opened at $21.15 on Friday. Semtech Co. has a fifty-two week low of $17.82 and a fifty-two week high of $65.51. 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 firm has a market capitalization of $1.35 billion, a P/E ratio of 22.03 and a beta of 1.69. The company’s 50 day moving average price is $22.69 and its two-hundred day moving average price is $27.72.

Analyst Ratings Changes

Several research analysts have weighed in on SMTC shares. StockNews.com started coverage on shares of Semtech in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Robert W. Baird lowered their price target 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. Benchmark reissued a “buy” rating and issued a $45.00 price target on shares of Semtech in a report on Friday, March 31st. Northland Securities started coverage on shares of Semtech in a report on Tuesday, April 11th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Susquehanna lowered their price target on shares of Semtech from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, March 30th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Semtech has a consensus rating of “Hold” and an average target price of $44.67.

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.