Two Sigma Advisers LP lessened its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 59.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 181,590 shares of the semiconductor company's stock after selling 262,800 shares during the quarter. Two Sigma Advisers LP owned about 0.24% of Semtech worth $11,231,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMTC. Hollencrest Capital Management purchased a new position in shares of Semtech during the 4th quarter worth $31,000. Dunhill Financial LLC purchased a new position in Semtech during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC boosted 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 worth $48,000 after buying an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Semtech during the 4th quarter valued at about $52,000. Finally, AlphaQuest LLC lifted its holdings in shares of Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after acquiring an additional 772 shares during the period.
Insider Buying and Selling at Semtech
In other Semtech news, CFO Mark Lin sold 2,907 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This represents a 17.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on SMTC. Needham & Company LLC restated a "buy" rating and issued a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Piper Sandler reissued an "overweight" rating and set a $55.00 price objective (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. UBS Group dropped their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Stifel Nicolaus boosted their price objective on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Robert W. Baird dropped 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.
View Our Latest Report on Semtech
Semtech Stock Down 1.3%
NASDAQ SMTC traded down $0.51 on Friday, reaching $37.28. The company had a trading volume of 1,648,274 shares, compared to its average volume of 2,154,068. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The stock has a market capitalization of $3.23 billion, a P/E ratio of -2.86, a P/E/G ratio of 2.12 and a beta of 1.88. The company's fifty day moving average is $33.22 and its 200 day moving average is $47.43.
Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The company's quarterly revenue was up 30.1% on a year-over-year basis. On average, research analysts expect that Semtech Co. will post -0.02 EPS for the current year.
About Semtech
(
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
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