Graham Capital Management L.P. lessened its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,987 shares of the semiconductor company's stock after selling 6,758 shares during the quarter. Graham Capital Management L.P.'s holdings in Semtech were worth $1,545,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Semtech during the 4th quarter valued at $31,000. Dunhill Financial LLC acquired a new stake in Semtech during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after buying an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech during the 4th quarter valued at $52,000. Finally, AlphaQuest LLC grew its holdings in 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.
Semtech Trading Up 2.0%
Shares of SMTC traded up $0.78 during midday trading on Friday, reaching $40.42. 1,437,440 shares of the company were exchanged, compared to its average volume of 2,142,100. The stock has a 50-day moving average price of $33.04 and a 200-day moving average price of $47.71. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -3.10, a P/E/G ratio of 2.12 and a beta of 1.88. Semtech Co. has a 1-year low of $24.05 and a 1-year high of $79.52.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $249.40 million. The company's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. Equities research analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.
Wall Street Analyst Weigh In
SMTC has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Stifel Nicolaus lowered 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price objective on shares of Semtech in a research report on Friday, March 14th. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Finally, Robert W. Baird lowered their price objective on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Semtech has an average rating of "Moderate Buy" and a consensus price target of $56.92.
Get Our Latest Research Report on SMTC
Insider Transactions at Semtech
In related news, CFO Mark Lin sold 10,890 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the sale, the chief financial officer now directly owns 11,625 shares of the company's stock, valued at $403,155. The trade was a 48.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company's stock.
Semtech Profile
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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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