UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $24.07 Million Holdings in Semtech Co. (NASDAQ:SMTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 389,185 shares of the semiconductor company's stock after selling 25,616 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.51% of Semtech worth $24,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SMTC. Whale Rock Capital Management LLC boosted its position in Semtech by 364.2% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock worth $202,015,000 after purchasing an additional 2,562,602 shares during the period. Wellington Management Group LLP boosted its position in Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after purchasing an additional 1,911,890 shares during the period. Vanguard Group Inc. boosted its position in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after purchasing an additional 1,326,226 shares during the period. Alyeska Investment Group L.P. bought a new position in Semtech during the fourth quarter worth $51,315,000. Finally, Fred Alger Management LLC boosted its position in Semtech by 122.6% during the fourth quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company's stock worth $92,271,000 after purchasing an additional 821,671 shares during the period.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.60% of the company's stock.

Semtech Price Performance

SMTC traded down $1.25 on Thursday, hitting $35.76. 2,377,492 shares of the stock were exchanged, compared to its average volume of 2,181,937. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52. The business has a 50-day moving average of $32.95 and a two-hundred day moving average of $47.08. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -2.74, a PEG ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS 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 the consensus estimate of $249.40 million. The firm's revenue was up 30.1% compared to the same quarter last year. During the same period last year, the company posted ($0.06) EPS. Equities research analysts expect that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SMTC. Stifel Nicolaus boosted their target price on shares of Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Benchmark reissued a "buy" rating and issued a $68.00 target price on shares of Semtech in a research report on Wednesday. Piper Sandler reissued an "overweight" rating and issued a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. UBS Group reduced their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $54.00 target price on shares of Semtech in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of "Moderate Buy" and a consensus price target of $58.58.

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.