Semtech Co. (NASDAQ:SMTC) Shares Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC grew its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,450,042 shares of the semiconductor company's stock after acquiring an additional 59,743 shares during the period. Semtech accounts for 3.2% of Hood River Capital Management LLC's portfolio, making the stock its 2nd largest holding. Hood River Capital Management LLC owned 4.56% of Semtech worth $213,385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its position 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 valued at $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% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after buying an additional 1,326,226 shares during the last quarter. Capital World Investors purchased a new position in shares of Semtech in the fourth quarter worth $37,110,000. Portolan Capital Management LLC grew its stake in Semtech by 609.5% during the fourth quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock valued at $41,267,000 after acquiring an additional 573,175 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Semtech in the fourth quarter worth about $27,254,000.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following 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 legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 16,787 shares of company stock valued at $665,044. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SMTC has been the subject of several research reports. Morgan Stanley began coverage on shares of Semtech in a research report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective for the company. Stifel Nicolaus lowered their price target on Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Robert W. Baird cut their target price on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Benchmark lowered their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of Semtech in a report on Friday, March 14th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.33.

Semtech Price Performance

SMTC traded down $0.45 during trading on Monday, reaching $29.58. 727,919 shares of the company's stock were exchanged, compared to its average volume of 2,109,681. Semtech Co. has a 1 year low of $24.05 and a 1 year high of $79.52. The company's fifty day simple moving average is $33.20 and its 200-day simple moving average is $48.71. The stock has a market capitalization of $2.56 billion, a P/E ratio of -2.27, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share 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 analysts' expectations of $249.40 million. The firm's quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. Equities analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

About Semtech

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.