Gotham Asset Management LLC lifted its stake in Semtech Co. (NASDAQ:SMTC - Free Report) by 269.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,205 shares of the semiconductor company's stock after purchasing an additional 48,289 shares during the quarter. Gotham Asset Management LLC owned 0.09% of Semtech worth $4,095,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in Semtech by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company's stock valued at $25,396,000 after acquiring an additional 56,108 shares in the last quarter. Rhumbline Advisers grew its position in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock valued at $12,702,000 after purchasing an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in Semtech in the 4th quarter valued at approximately $2,680,000. Stephens Inc. AR purchased a new stake in Semtech in the 4th quarter worth approximately $889,000. Finally, Essential Planning LLC. acquired a new stake in shares of Semtech during the 4th quarter valued at $1,069,000.
Analyst Ratings Changes
SMTC has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. UBS Group lowered their price target on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Piper Sandler restated an "overweight" rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price objective on shares of Semtech in a research note 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.
Read Our Latest Stock Analysis on Semtech
Semtech Stock Down 0.3%
NASDAQ SMTC traded down $0.10 during midday trading on Tuesday, hitting $40.04. The company had a trading volume of 174,419 shares, compared to its average volume of 2,130,021. The firm has a fifty day simple moving average of $33.16 and a two-hundred day simple moving average of $47.68. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -3.07, a P/E/G ratio of 2.12 and a beta of 1.88.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business's revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, equities analysts predict that Semtech Co. will post -0.02 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO Mark Lin sold 2,907 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the sale, the chief financial officer now owns 13,481 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.
About Semtech
(
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
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
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
