Granahan Investment Management LLC Buys 255,583 Shares of Semtech Co. (NASDAQ:SMTC)

Granahan Investment Management LLC grew its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 126.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,075 shares of the semiconductor company's stock after acquiring an additional 255,583 shares during the period. Semtech accounts for 1.2% of Granahan Investment Management LLC's investment portfolio, making the stock its 24th biggest holding. Granahan Investment Management LLC owned 0.61% of Semtech worth $28,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SMTC. Quadrant Capital Group LLC boosted its position in shares of Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after purchasing an additional 337 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Semtech during the fourth quarter worth $31,000. Dunhill Financial LLC bought a new position in shares of Semtech during the fourth quarter worth $31,000. Smartleaf Asset Management LLC raised its holdings in shares of Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 505 shares during the period. Finally, Mariner LLC raised its holdings in shares of Semtech by 3.3% during the fourth quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock worth $1,122,000 after acquiring an additional 582 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented 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 on the stock. Needham & Company LLC restated a "buy" rating and set a $54.00 price objective on shares of Semtech in a report on Friday, March 14th. Benchmark dropped their price objective on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Robert W. Baird dropped their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, Craig Hallum dropped their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $56.92.

Semtech Trading Up 9.0%

Shares of SMTC traded up $3.15 during midday trading on Monday, reaching $38.22. The stock had a trading volume of 2,602,982 shares, compared to its average volume of 2,128,819. The firm has a 50 day simple moving average of $32.44 and a 200-day simple moving average of $47.88. Semtech Co. has a one year low of $24.05 and a one year high of $79.52. The firm has a market cap of $3.31 billion, a PE ratio of -2.93, a P/E/G ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $249.40 million. During the same period last year, the business earned ($0.06) EPS. The business's revenue was up 30.1% on a year-over-year basis. As a group, research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction dated 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 owns 13,481 shares of the company's stock, valued at approximately $508,368.51. The trade was a 17.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

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.