G2 Investment Partners Management LLC Buys 73,392 Shares of Semtech Co. (NASDAQ:SMTC)

G2 Investment Partners Management LLC lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 58.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,577 shares of the semiconductor company's stock after acquiring an additional 73,392 shares during the quarter. Semtech comprises approximately 3.2% of G2 Investment Partners Management LLC's holdings, making the stock its 6th biggest holding. G2 Investment Partners Management LLC owned approximately 0.26% of Semtech worth $12,344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after acquiring an additional 1,911,890 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Semtech by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after purchasing an additional 1,326,226 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Semtech in the 4th quarter valued at approximately $51,315,000. Fred Alger Management LLC boosted its stake in shares of Semtech by 122.6% during the 4th quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company's stock valued at $92,271,000 after buying an additional 821,671 shares during the last quarter. Finally, Capital World Investors acquired a new stake in shares of Semtech during the fourth quarter worth approximately $37,110,000.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 2,907 shares of the 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 of the company's stock, valued at $508,368.51. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on SMTC. Morgan Stanley began coverage on shares of Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective for the company. Craig Hallum lowered their price objective on Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 14th. Robert W. Baird reduced their target price on Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Finally, Benchmark reduced their price objective on Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and a consensus price target of $56.92.

Semtech Stock Up 0.5%

NASDAQ SMTC traded up $0.21 on Wednesday, hitting $39.75. The stock had a trading volume of 872,126 shares, compared to its average volume of 2,126,844. The company's 50-day moving average is $32.58 and its two-hundred day moving average is $47.82. Semtech Co. has a one year low of $24.05 and a one year high of $79.52. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -3.05, a P/E/G 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, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm's revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.

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.