BlackRock Fund Advisors has recently announced that it has increased stake in Semtech Corporation (NASDAQ:SMTC) by 39.58%. After grabbing 10.18 million shares, the institutional investor is now in possession of 2.89 million shares of the Technology Company. The new investment brought the stake of investor firm to 15.94% having worth around $198.37 million. Moreover, The Vanguard Group, Inc. increased its share by 0.52 million to have a control over 7.79 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.34 million shares by acquiring 3.78 million shares or 5.91% of the stake.
Semtech Corporation (SMTC) concluded trading on 05/24/23 at a closing price of $20.78, with 1.44 million shares of worth about $30.0 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -27.90% during that period and on Wednesday the price saw a loss of about -3.12%. Currently the company’s common shares owned by public are about 63.87M shares, out of which, 63.14M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 68 times over the past 12 months. They bought 130,359 shares in 38 of the transactions. In 30 selling transactions, insiders dumped 46,372 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Semtech Corporation iShares Core S&P Small Cap ETF is currently holding 4.63 million shares of worth totaling $90.21 million. The company recently came selling 6953.0 shares which brought its stake up to 7.25% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 957.0 shares, after which its hold over company’s outstanding shares expand to 3.08%, leaving 1.96 million shares with the mutual fund that have a worth of about $38.28 million. Vanguard Small Cap Index Fund, after selling 1.67 million shares, have now control over 2.62% of the stake in the company. It holds 408.0 shares of worth $32.55 million.
Semtech Corporation (NASDAQ: SMTC) started trading at $20.89, below -$0.56 from concluding price of the previous day. However, the stock later moved at a day high price of 21.04, or with a loss of -3.12%. Stock saw a price change of 0.92% in past 5 days and over the past one month there was a price change of 0.82%. Year-to-date (YTD), SMTC shares are showing a performance of -27.57% which decreased to -65.52% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $17.82 but also hit the highest price of $65.51 during that period. The average intraday trading volume for Semtech Corporation shares is 1.69 million. The stock is currently trading 6.24% above its 20-day simple moving average (SMA20), while that difference is down -10.48% for SMA50 and it goes to -31.51% lower than SMA200.
BlackRock Fund Advisors acquired 10.18 million shares of Semtech Corporation having value of about $198.37 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 2.89 million shares in the company valued at close to $59976711.38, or have control over 39.58% stake in the company. Semtech Corporation (NASDAQ: SMTC) currently have 63.87M outstanding shares and institutions hold larger chunk of about 99.00% of that. Holding of mutual funds in the company is about 55.41% while other institutional holders and individual stake holders have control over 55.67% and 5.62% of the stake respectively.
The stock has a current market capitalization of $1.35B and its 3Y-monthly beta is at 1.65. PE ratio of stock for trailing 12 months is 21.80, while it has posted earnings per share of $0.95 in the same period. Its PEG reads 1.90 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 1.77. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SMTC, volatility over the week remained 3.65% while standing at 3.66% over the month.
Analysts are in expectations that Semtech Corporation (SMTC) stock would likely to be making an EPS of -$0.08 in the current quarter, while forecast for next quarter EPS is -$0.02 and it is $1.78 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.8 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -50.00% while it is estimated to increase by 236.67% in next year. EPS is likely to grow at an annualized rate of 11.50% for next 5-years, compared to annual growth of -8.10% made by the stock over the past 5-years.
Analysts at 12 brokerage firms have issued recommendations for the Semtech Corporation (SMTC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 12 Wall Street analysts, 6 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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