Moody Aldrich Partners LLC Sells 21,963 Shares of Semtech Corporation $SMTC

Moody Aldrich Partners LLC lowered its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 27.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 58,986 shares of the semiconductor company's stock after selling 21,963 shares during the period. Moody Aldrich Partners LLC owned about 0.06% of Semtech worth $4,347,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Evergreen Capital Management LLC lifted its stake in Semtech by 2.3% in the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 136 shares in the last quarter. Journey Strategic Wealth LLC raised its position in shares of Semtech by 3.2% during the 3rd quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company's stock valued at $363,000 after buying an additional 159 shares in the last quarter. AlphaQuest LLC raised its position in shares of Semtech by 42.5% during the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock valued at $41,000 after buying an additional 173 shares in the last quarter. Archer Investment Corp raised its position in shares of Semtech by 7.3% during the 4th quarter. Archer Investment Corp now owns 2,683 shares of the semiconductor company's stock valued at $198,000 after buying an additional 182 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Semtech by 65.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock valued at $42,000 after buying an additional 235 shares in the last quarter.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 974 shares of Semtech stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total transaction of $76,381.08. Following the completion of the sale, the chief financial officer directly owned 33,343 shares in the company, valued at approximately $2,614,758.06. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $105.93, for a total transaction of $52,965.00. Following the sale, the director owned 23,779 shares of the company's stock, valued at $2,518,909.47. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 46,384 shares of company stock valued at $3,920,140. Company insiders own 0.48% of the company's stock.

Semtech Price Performance

NASDAQ SMTC opened at $94.40 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. The firm's 50 day moving average price is $87.68 and its 200-day moving average price is $79.33. Semtech Corporation has a 52-week low of $29.29 and a 52-week high of $113.05. The company has a market cap of $8.79 billion, a PE ratio of -214.55 and a beta of 2.06.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on SMTC. TD Cowen reissued a "buy" rating on shares of Semtech in a research report on Tuesday, February 24th. Craig Hallum increased their price objective on shares of Semtech from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Morgan Stanley increased their price objective on shares of Semtech from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Susquehanna increased their price objective on shares of Semtech from $90.00 to $100.00 and gave the stock a "positive" rating in a research report on Monday, March 9th. Finally, Robert W. Baird increased their price objective on shares of Semtech from $88.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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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