ProShare Advisors LLC Buys 8,349 Shares of Semtech Co. (NASDAQ:SMTC)

ProShare Advisors LLC lifted its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 59.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,467 shares of the semiconductor company's stock after buying an additional 8,349 shares during the period. ProShare Advisors LLC's holdings in Semtech were worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Panoramic Capital LLC purchased a new position in shares of Semtech in the 4th quarter worth approximately $5,231,000. Man Group plc purchased a new position in Semtech in the fourth quarter valued at approximately $4,878,000. Nuveen Asset Management LLC lifted its stake in Semtech by 57.0% in the fourth quarter. Nuveen Asset Management LLC now owns 569,339 shares of the semiconductor company's stock valued at $35,214,000 after purchasing an additional 206,693 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Semtech by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,156 shares of the semiconductor company's stock valued at $4,587,000 after purchasing an additional 3,616 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Semtech by 41.0% in the fourth quarter. Lazard Asset Management LLC now owns 16,418 shares of the semiconductor company's stock valued at $1,015,000 after purchasing an additional 4,776 shares during the last quarter.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the transaction, the chief financial officer now owns 13,481 shares of the company's stock, valued at $508,368.51. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley assumed coverage on Semtech in a research note on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price objective on the stock. Stifel Nicolaus upped their price objective on Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Friday. Needham & Company LLC restated a "buy" rating and set a $54.00 target price on shares of Semtech in a research report on Friday, March 14th. Benchmark dropped their target price on Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Robert W. Baird dropped their target price on Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Semtech has an average rating of "Moderate Buy" and an average price target of $57.50.

Semtech Stock Up 3.7%

Shares of SMTC stock traded up $1.40 on Tuesday, reaching $38.68. The company's stock had a trading volume of 666,088 shares, compared to its average volume of 2,148,308. Semtech Co. has a 12-month low of $24.05 and a 12-month high of $79.52. The company has a market capitalization of $3.35 billion, a P/E ratio of -2.96, a PEG ratio of 2.12 and a beta of 1.88. The stock's 50 day simple moving average is $33.13 and its 200-day simple moving average is $47.32.

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