Federated Hermes Inc. Has $7.78 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Federated Hermes Inc. increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 28.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,848 shares of the semiconductor company’s stock after purchasing an additional 27,916 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Semtech worth $7,784,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after buying an additional 1,911,890 shares during the period. Vanguard Group Inc. grew its holdings in Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after purchasing an additional 1,326,226 shares during the period. Schroder Investment Management Group acquired a new stake in Semtech in the fourth quarter worth $27,254,000. Burkehill Global Management LP bought a new stake in Semtech in the fourth quarter valued at $18,555,000. Finally, WCM Investment Management LLC bought a new position in shares of Semtech during the 4th quarter worth about $15,180,000.

Semtech Stock Down 9.9 %

Shares of SMTC stock opened at $27.00 on Friday. Semtech Co. has a 12-month low of $24.72 and a 12-month high of $79.52. The company has a 50 day moving average of $37.47 and a 200-day moving average of $49.95. The firm has a market cap of $2.34 billion, a P/E ratio of -2.07, a PEG ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $249.40 million. During the same period in the prior year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. As a group, equities analysts expect that Semtech Co. will post -0.02 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMTC. Morgan Stanley started coverage on Semtech in a research note on Monday. They set an “equal weight” rating and a $30.00 price target on the stock. Stifel Nicolaus lowered their price objective on shares of Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 14th. UBS Group dropped their price target on shares of Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Robert W. Baird decreased their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.92.

Insiders Place Their Bets

In other Semtech news, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. This trade represents a 98.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Lin sold 10,890 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the sale, the chief financial officer now owns 11,625 shares in the company, valued at approximately $403,155. This represents a 48.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $905,394 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Semtech Company Profile

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