Semtech Co. (NASDAQ:SMTC) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 65.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 266,066 shares of the semiconductor company's stock after selling 513,290 shares during the period. Voloridge Investment Management LLC owned 0.35% of Semtech worth $16,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Semtech during the fourth quarter valued at $31,000. Dunhill Financial LLC purchased a new position in shares of Semtech in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its stake in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after buying an additional 505 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Semtech in the fourth quarter worth about $52,000. Finally, AlphaQuest LLC lifted its stake in shares of Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after buying an additional 772 shares in the last quarter.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 2,907 shares of the business'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 completion of the sale, the chief financial officer now directly owns 13,481 shares in the company, valued at $508,368.51. The trade was a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Semtech Stock Performance

Semtech stock traded down $2.20 during trading hours on Wednesday, reaching $36.58. 2,032,951 shares of the stock were exchanged, compared to its average volume of 2,161,790. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The stock has a market cap of $3.17 billion, a P/E ratio of -2.80, a P/E/G ratio of 2.12 and a beta of 1.88. The firm's 50 day moving average is $33.09 and its 200 day moving average is $47.26.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Semtech from $30.00 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday. Craig Hallum dropped their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 14th. Needham & Company LLC restated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday. Benchmark restated a "buy" rating and issued a $68.00 price objective on shares of Semtech in a report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on shares of Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and an average price target of $58.33.

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.