Jefferies Financial Group Inc. Purchases 29,723 Shares of Semtech Co. (NASDAQ:SMTC)

Jefferies Financial Group Inc. raised its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 62.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,659 shares of the semiconductor company's stock after purchasing an additional 29,723 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.10% of Semtech worth $4,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMTC. Nisa Investment Advisors LLC lifted its stake in shares of Semtech by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company's stock worth $482,000 after buying an additional 870 shares during the last quarter. KBC Group NV lifted its position in Semtech by 113.0% during the fourth quarter. KBC Group NV now owns 3,498 shares of the semiconductor company's stock worth $216,000 after acquiring an additional 1,856 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock worth $109,000 after acquiring an additional 598 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of Semtech in the fourth quarter valued at approximately $3,483,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Semtech during the fourth quarter worth approximately $396,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SMTC. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. UBS Group lowered their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Morgan Stanley upped their target price on Semtech from $30.00 to $40.00 and gave the company an "equal weight" rating in a research report on Tuesday. Robert W. Baird reduced their target price on Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, Stifel Nicolaus raised their price target on Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $58.33.

Insider Transactions at Semtech

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

Semtech Trading Down 4.6%

Semtech stock traded down $1.77 during midday trading on Wednesday, reaching $37.01. The company's stock had a trading volume of 4,885,723 shares, compared to its average volume of 2,178,053. The stock has a market cap of $3.21 billion, a PE ratio of -2.84, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88. Semtech Co. has a 52 week low of $24.05 and a 52 week high of $79.52. The business has a 50-day moving average price of $33.04 and a 200-day moving average price of $47.19.

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

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.