G2 Investment Partners Management LLC boosted its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 58.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 199,577 shares of the semiconductor company's stock after buying an additional 73,392 shares during the quarter. Semtech makes up approximately 3.2% of G2 Investment Partners Management LLC's holdings, making the stock its 6th largest holding. G2 Investment Partners Management LLC owned about 0.26% of Semtech worth $12,344,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Moody National Bank Trust Division lifted its holdings in Semtech by 148.6% during the 4th 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in 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 lifted its holdings in Semtech by 6.1% during the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock worth $12,702,000 after buying an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in Semtech during the 4th quarter worth $2,680,000. Finally, Stephens Inc. AR acquired a new position in Semtech during the 4th quarter worth $889,000.
Wall Street Analyst Weigh In
Several research firms have issued reports on SMTC. Stifel Nicolaus reduced their price objective on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. UBS Group dropped 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. Morgan Stanley started coverage on shares of Semtech in a research report on Monday, April 7th. They set an "equal weight" rating and a $30.00 target price for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of Semtech in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.92.
Read Our Latest Analysis on SMTC
Semtech Stock Up 1.0%
Shares of SMTC traded up $0.34 during trading hours on Friday, reaching $35.07. The stock had a trading volume of 1,409,453 shares, compared to its average volume of 2,126,913. The firm has a 50-day moving average of $32.41 and a 200 day moving average of $47.93. The company has a market cap of $3.04 billion, a P/E ratio of -2.69, a P/E/G ratio of 2.12 and a beta of 1.88. Semtech Co. has a 52 week low of $24.05 and a 52 week high of $79.52.
Semtech (NASDAQ:SMTC - Get Free Report) last posted 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 firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm's quarterly revenue was up 30.1% on a year-over-year basis. As a group, equities analysts expect that Semtech Co. will post -0.02 earnings per share for the current year.
Insiders Place Their Bets
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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company's stock.
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.
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