Everence Capital Management Inc. Acquires New Shares in Semtech Co. (NASDAQ:SMTC)

Everence Capital Management Inc. acquired a new stake in Semtech Co. (NASDAQ:SMTC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 9,730 shares of the semiconductor company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new stake in Semtech in the fourth quarter valued at about $703,000. ORG Partners LLC increased its holdings in Semtech by 16.3% in the fourth quarter. ORG Partners LLC now owns 17,409 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 2,440 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Semtech in the fourth quarter worth about $201,000. SG Americas Securities LLC bought a new stake in shares of Semtech in the fourth quarter worth about $164,000. Finally, Channel Wealth LLC bought a new stake in shares of Semtech in the fourth quarter worth about $249,000.

Insider Activity at Semtech

In related news, CFO Mark Lin purchased 1,000 shares of Semtech stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $33.23 per share, with a total value of $33,230.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $33,230. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Semtech Stock Down 3.1 %

SMTC stock opened at $31.05 on Friday. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79. The stock has a market capitalization of $2.00 billion, a P/E ratio of -1.83 and a beta of 1.85. The business has a 50-day moving average of $25.28 and a 200-day moving average of $21.24. Semtech Co. has a fifty-two week low of $13.13 and a fifty-two week high of $35.80.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SMTC shares. Oppenheimer restated a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Northland Securities increased their price target on Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a report on Monday, April 1st. Susquehanna increased their price target on Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, April 1st. Piper Sandler restated an “overweight” rating and issued a $40.00 price target (up from $30.00) on shares of Semtech in a report on Monday, April 1st. Finally, Craig Hallum increased their price target on Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $39.85.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.