Clearline Capital LP Has $463,000 Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Clearline Capital LP cut its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 98.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,488 shares of the semiconductor company's stock after selling 435,428 shares during the period. Clearline Capital LP's holdings in Semtech were worth $463,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SMTC. Hollencrest Capital Management purchased a new position in Semtech during the fourth quarter worth about $31,000. Dunhill Financial LLC acquired a new stake in shares of Semtech in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC grew its holdings in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Semtech during the fourth quarter worth approximately $52,000. Finally, AlphaQuest LLC boosted its holdings in shares of Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 772 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SMTC shares. Craig Hallum decreased their price target on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Morgan Stanley assumed coverage on Semtech in a research report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price target on the stock. Robert W. Baird decreased their target price on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Benchmark decreased their price objective on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.

Semtech Stock Up 3.6%

SMTC stock traded up $1.37 during midday trading on Tuesday, reaching $39.59. The company had a trading volume of 841,392 shares, compared to its average volume of 2,123,895. The firm has a market capitalization of $3.43 billion, a PE ratio of -3.03, a P/E/G ratio of 2.12 and a beta of 1.88. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The stock has a 50 day moving average price of $32.44 and a 200 day moving average price of $47.88.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. Research analysts predict that Semtech Co. will post -0.02 EPS for the current year.

Insider Activity

In other news, CFO Mark Lin sold 10,890 shares of the business's stock in a transaction 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 of the company's stock, valued at $403,155. The trade was a 48.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Semtech 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.