Fortress Investment Group LLC Takes Position in Semtech Co. (NASDAQ:SMTC)

Fortress Investment Group LLC bought a new stake in Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,800 shares of the semiconductor company's stock, valued at approximately $1,225,000. Semtech makes up 0.2% of Fortress Investment Group LLC's holdings, making the stock its 13th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moody National Bank Trust Division grew its holdings in shares of Semtech by 148.6% during the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company's stock worth $1,272,000 after buying an additional 12,296 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Semtech by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company's stock worth $25,396,000 after buying an additional 56,108 shares in the last quarter. Rhumbline Advisers grew its holdings in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock worth $12,702,000 after acquiring an additional 11,878 shares during the period. Convergence Investment Partners LLC acquired a new stake in Semtech in the fourth quarter valued at $2,680,000. Finally, Stephens Inc. AR purchased a new stake in shares of Semtech during the 4th quarter worth $889,000.

Semtech Stock Performance

NASDAQ SMTC traded down $0.55 during trading hours on Thursday, hitting $39.39. 431,285 shares of the company's stock were exchanged, compared to its average volume of 2,128,596. The firm has a market capitalization of $3.41 billion, a P/E ratio of -3.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88. Semtech Co. has a 12-month low of $24.05 and a 12-month high of $79.52. The business's 50 day moving average is $32.71 and its 200-day moving average is $47.77.

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

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Benchmark dropped their price objective on Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Stifel Nicolaus decreased their target price on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Craig Hallum dropped their price target on Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Semtech presently has an average rating of "Moderate Buy" and an average price target of $56.92.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

Semtech 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.