Fortress Investment Group LLC bought a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,800 shares of the semiconductor company's stock, valued at approximately $1,225,000. Semtech makes up about 0.2% of Fortress Investment Group LLC's holdings, making the stock its 13th biggest holding.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in Semtech in the fourth quarter valued at about $31,000. Dunhill Financial LLC purchased a new position in Semtech in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its position in 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Semtech in the fourth quarter worth $52,000. Finally, AlphaQuest LLC lifted its position in shares of Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after buying an additional 772 shares during the last quarter.
Analyst Ratings Changes
A number of brokerages recently issued reports on SMTC. Craig Hallum lowered their price objective on Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. 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. Benchmark reduced their price objective on shares of 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 dropped 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.
Get Our Latest Research Report on SMTC
Semtech Trading Up 1.0 %
Shares of NASDAQ SMTC opened at $35.07 on Friday. The business has a 50-day moving average of $32.41 and a 200-day moving average of $47.88. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -2.69, a PEG 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.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly 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. During the same period in the previous year, the company earned ($0.06) EPS. Semtech's quarterly revenue was up 30.1% on a year-over-year basis. On average, analysts predict that Semtech Co. will post -0.02 earnings per share for the current year.
Insider Activity at Semtech
In related news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the transaction, the chief financial officer now owns 13,481 shares in the company, valued at $508,368.51. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.
Semtech Profile
(
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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
