Horizon Investments LLC Purchases New Stake in Semtech Corporation $SMTC

Key Points

• Horizon Investments purchased a new stake of 13,477 Semtech shares in Q4, valued at about $993,000.
• Insiders have been net sellers: EVP Jason Elliot Green sold 7,500 shares and CEO Hong Q. Hou sold 2,000 shares recently, and insiders sold 46,384 shares (≈$3.92M) over the past three months, now owning 0.48% of the company.
• Analysts have largely upgraded targets (14 Buys, 1 Hold, 1 Sell) with a consensus price target of $95.71 while shares trade around $121.50; Semtech slightly beat Q results with $0.44 EPS vs $0.43 est and revenue of $274.4M, up 9.3% year-over-year.

Horizon Investments LLC purchased a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,477 shares of the semiconductor company's stock, valued at approximately $993,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 360 shares in the last quarter. AlphaQuest LLC raised its stake in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 235 shares in the last quarter. Assetmark Inc. raised its stake in Semtech by 1,745.5% in the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 576 shares in the last quarter. Finally, Huntington National Bank raised its stake in Semtech by 151.3% in the third quarter. Huntington National Bank now owns 749 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 451 shares in the last quarter.

Insider Buying and Selling

In other news, EVP Jason Elliot Green sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the completion of the transaction, the executive vice president owned 8,811 shares of the company's stock, valued at $720,123.03. This represents a 45.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hong Q. Hou sold 2,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $90.11, for a total value of $180,220.00. Following the completion of the transaction, the chief executive officer directly owned 73,228 shares of the company's stock, valued at $6,598,575.08. This represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,384 shares of company stock valued at $3,920,140 over the last three months. Insiders own 0.48% of the company's stock.

Semtech Stock Up 1.9%

Shares of NASDAQ SMTC opened at $121.50 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market cap of $11.31 billion, a price-to-earnings ratio of -276.14 and a beta of 2.22. Semtech Corporation has a 12 month low of $34.16 and a 12 month high of $127.19. The stock has a 50-day moving average price of $90.10 and a two-hundred day moving average price of $80.82.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to the consensus estimate of $273.14 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts forecast that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC boosted their price target on Semtech from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Morgan Stanley boosted their target price on Semtech from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, March 16th. Stifel Nicolaus boosted their target price on Semtech from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Tuesday, March 17th. Oppenheimer boosted their target price on Semtech from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Finally, Susquehanna boosted their target price on Semtech from $90.00 to $100.00 and gave the stock a "positive" rating in a research note on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Semtech has an average rating of "Moderate Buy" and a consensus price target of $95.71.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company's products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech's portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.

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