Capital World Investors Purchases New Position in Semtech Co. (NASDAQ:SMTC)

Capital World Investors bought a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 600,000 shares of the semiconductor company's stock, valued at approximately $37,110,000. Capital World Investors owned 0.79% of Semtech as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its stake in Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock valued at $132,550,000 after purchasing an additional 1,911,890 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Semtech by 13.0% during the 4th 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 in the last quarter. Portolan Capital Management LLC raised its stake in shares of Semtech by 609.5% during the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock worth $41,267,000 after purchasing an additional 573,175 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Semtech during the 4th quarter worth about $27,254,000. Finally, Burkehill Global Management LP purchased a new stake in shares of Semtech during the 4th quarter worth about $18,555,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMTC. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. Morgan Stanley began coverage on Semtech in a research note on Monday, April 7th. They set an "equal weight" rating and a $30.00 price target for the company. Craig Hallum cut their price target on Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Robert W. Baird cut their price target on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Stifel Nicolaus cut their price objective on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average target price of $57.33.

Semtech Stock Up 2.4 %

NASDAQ SMTC traded up $0.69 during trading on Friday, hitting $30.03. The company's stock had a trading volume of 1,828,842 shares, compared to its average volume of 2,114,927. The firm has a 50 day moving average price of $33.20 and a 200 day moving average price of $48.71. The firm has a market cap of $2.60 billion, a P/E ratio of -2.30, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech Co. has a 52 week low of $24.05 and a 52 week high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. The business's quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts expect that Semtech Co. will post -0.02 earnings per share for the current year.

Insider Activity

In other news, CFO Mark Lin sold 10,890 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. The trade was a 48.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 16,787 shares of company stock worth $665,044. Company 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.