Ghisallo Capital Management LLC Invests $14.23 Million in Semtech Co. (NASDAQ:SMTC)

Ghisallo Capital Management LLC bought a new stake in Semtech Co. (NASDAQ:SMTC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 230,000 shares of the semiconductor company's stock, valued at approximately $14,226,000. Semtech makes up 0.8% of Ghisallo Capital Management LLC's investment portfolio, making the stock its 24th biggest position. Ghisallo Capital Management LLC owned approximately 0.30% of Semtech as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Hood River Capital Management LLC raised its stake in shares of Semtech by 1.8% in the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company's stock valued at $213,385,000 after purchasing an additional 59,743 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Semtech by 8.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,024,768 shares of the semiconductor company's stock worth $63,382,000 after acquiring an additional 79,015 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Semtech by 405.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 478,145 shares of the semiconductor company's stock worth $29,574,000 after acquiring an additional 383,528 shares during the period. Quantessence Capital LLC acquired a new stake in Semtech during the fourth quarter worth about $460,000. Finally, Massar Capital Management LP acquired a new stake in Semtech during the fourth quarter worth about $1,760,000.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now directly owns 13,481 shares of the company's stock, valued at approximately $508,368.51. This represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Semtech Price Performance

Semtech stock traded up $1.79 during midday trading on Thursday, reaching $33.04. The stock had a trading volume of 1,332,922 shares, compared to its average volume of 2,780,996. The firm's fifty day simple moving average is $32.77 and its two-hundred day simple moving average is $48.37. Semtech Co. has a twelve month low of $24.05 and a twelve month high of $79.52. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -2.53, a PEG ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $249.40 million. During the same quarter last year, the firm earned ($0.06) EPS. The business's revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, sell-side analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Craig Hallum dropped their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Robert W. Baird dropped their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Morgan Stanley began coverage on shares of Semtech in a research note on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective on the stock. Finally, 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 note on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and an average target price of $57.33.

About Semtech

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.