Man Group plc purchased a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 78,873 shares of the semiconductor company's stock, valued at approximately $4,878,000. Man Group plc owned about 0.10% of Semtech as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in SMTC. Quadrant Capital Group LLC raised its position in Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after acquiring an additional 337 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Semtech during the fourth quarter valued at $31,000. Dunhill Financial LLC purchased a new stake in Semtech during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC raised its stake in Semtech by 190.6% in the 4th 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 last quarter. Finally, Mariner LLC grew its holdings in shares of Semtech by 3.3% during the fourth quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock worth $1,122,000 after buying an additional 582 shares in the last quarter.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on SMTC shares. Stifel Nicolaus raised their target price on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird cut their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. UBS Group decreased their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Craig Hallum reduced their target price on Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Morgan Stanley initiated 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. Three 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 currently has a consensus rating of "Moderate Buy" and an average target price of $57.50.
Check Out Our Latest Research Report on Semtech
Semtech Price Performance
Semtech stock traded down $0.51 during midday trading on Monday, hitting $37.28. 1,648,274 shares of the company were exchanged, compared to its average volume of 2,154,068. The company has a market cap of $3.23 billion, a PE ratio of -2.86, a price-to-earnings-growth 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 company's fifty day moving average price is $33.22 and its 200-day moving average price is $47.43.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $251.00 million during the quarter, compared to analysts' expectations of $249.40 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The business's quarterly revenue was up 30.1% on a year-over-year basis. On average, analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.
Insider Buying and Selling at Semtech
In related news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. This trade represents a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.
Semtech Company Profile
(
Free Report)
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.
Further Reading
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
