Crestline Management LP Raises Stake in Semtech Co. (NASDAQ:SMTC)

Crestline Management LP increased its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 63.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 358,363 shares of the semiconductor company's stock after acquiring an additional 139,370 shares during the quarter. Semtech makes up about 0.7% of Crestline Management LP's holdings, making the stock its 13th largest position. Crestline Management LP owned about 0.47% of Semtech worth $22,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SMTC. Wellington Management Group LLP boosted its holdings in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after buying an additional 1,911,890 shares during the last quarter. Vanguard Group Inc. boosted its stake in Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after acquiring an additional 1,326,226 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Semtech during the 4th quarter valued at approximately $51,315,000. Capital World Investors purchased a new stake in shares of Semtech during the 4th quarter worth approximately $37,110,000. Finally, Portolan Capital Management LLC raised its holdings in shares of Semtech by 609.5% in 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 during the period.

Semtech Trading Up 1.0 %

Shares of SMTC traded up $0.34 during trading hours on Friday, reaching $35.07. 1,409,453 shares of the company's stock traded hands, compared to its average volume of 2,126,913. The firm's 50 day simple moving average is $32.41 and its 200-day simple moving average is $47.90. The stock has a market cap of $3.04 billion, a PE ratio of -2.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SMTC. Stifel Nicolaus decreased their target price on Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Craig Hallum lowered their price objective on 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 cut their target price on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Benchmark lowered 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and an average target price of $56.92.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the sale, the chief financial officer now owns 13,481 shares of the company's stock, valued at approximately $508,368.51. The trade was a 17.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Semtech Company 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.