CANADA LIFE ASSURANCE Co Purchases 15,492 Shares of Semtech Co. (NASDAQ:SMTC)

CANADA LIFE ASSURANCE Co lifted its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 17.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,917 shares of the semiconductor company's stock after purchasing an additional 15,492 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.14% of Semtech worth $6,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in Semtech by 27.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after buying an additional 337 shares during the period. GAMMA Investing LLC boosted its position in Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company's stock worth $196,000 after buying an additional 421 shares during the period. Hollencrest Capital Management acquired a new stake in Semtech during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its position in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after buying an additional 505 shares during the period. Finally, Mariner LLC boosted its position in Semtech by 3.3% during the 4th quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock worth $1,122,000 after buying an additional 582 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of Semtech in a research report on Friday, March 14th. Stifel Nicolaus dropped their price target on shares of Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Benchmark dropped their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley started coverage on shares of Semtech in a research report on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price target on the stock. Finally, Robert W. Baird dropped their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.33.

Semtech Price Performance

Shares of Semtech stock traded down $0.10 during trading on Monday, reaching $29.93. 1,918,970 shares of the company traded hands, compared to its average volume of 2,114,143. Semtech Co. has a 1-year low of $24.05 and a 1-year high of $79.52. The company has a 50 day moving average price of $33.04 and a 200-day moving average price of $48.61. The firm has a market capitalization of $2.59 billion, a PE ratio of -2.29, a P/E/G ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. The business's quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. Equities research analysts expect that Semtech Co. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. The trade was a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 16,787 shares of company stock worth $665,044. Insiders own 0.60% of the company's stock.

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.