42,269 Shares in Semtech Co. (NASDAQ:SMTC) Purchased by Twinbeech Capital LP

Twinbeech Capital LP bought a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 42,269 shares of the semiconductor company's stock, valued at approximately $2,614,000. Twinbeech Capital LP owned 0.06% of Semtech at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in Semtech by 12.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company's stock valued at $482,000 after purchasing an additional 870 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Semtech by 643.7% in the 4th quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company's stock valued at $3,545,000 after purchasing an additional 49,609 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Semtech by 119.7% in the fourth quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company's stock valued at $1,364,000 after buying an additional 12,016 shares in the last quarter. Accel Wealth Management acquired a new position in shares of Semtech in the fourth quarter worth $204,000. Finally, KBC Group NV raised its holdings in Semtech by 113.0% in the fourth quarter. KBC Group NV now owns 3,498 shares of the semiconductor company's stock valued at $216,000 after acquiring an additional 1,856 shares in the last quarter.

Insider Activity

In other news, CFO Mark Lin sold 2,907 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the sale, the chief financial officer now directly owns 13,481 shares of the company's stock, valued at approximately $508,368.51. This trade represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SMTC has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Robert W. Baird decreased their price target on Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Morgan Stanley initiated coverage on shares of Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 target price for the company. Stifel Nicolaus increased their price objective on Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Friday. Finally, Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. 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 MarketBeat, Semtech has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

Semtech Trading Down 1.3%

Semtech stock traded down $0.51 during mid-day trading on Monday, reaching $37.28. The company's stock had a trading volume of 1,648,274 shares, compared to its average volume of 2,154,068. The business has a 50 day moving average price of $33.22 and a 200-day moving average price of $47.43. Semtech Co. has a twelve month low of $24.05 and a twelve month high of $79.52. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -2.86, a PEG ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping 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 period in the prior year, the company posted ($0.06) earnings per share. The company's revenue was up 30.1% on a year-over-year basis. On average, equities analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

About Semtech

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.