Jefferies Financial Group Inc. Increases Stake in Semtech Co. (NASDAQ:SMTC)

Jefferies Financial Group Inc. raised its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 62.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,659 shares of the semiconductor company's stock after purchasing an additional 29,723 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.10% of Semtech worth $4,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in shares of Semtech by 27.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock valued at $97,000 after purchasing an additional 337 shares during the period. Hollencrest Capital Management purchased a new position in Semtech in the 4th quarter valued at approximately $31,000. Dunhill Financial LLC purchased a new position in Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised 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 acquiring an additional 505 shares during the period. Finally, Mariner LLC lifted its position 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 in the last quarter.

Wall Street Analyst Weigh In

SMTC has been the subject of several recent research reports. Robert W. Baird reduced their price target on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Stifel Nicolaus reduced their target price on Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 17th. UBS Group lowered their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Morgan Stanley assumed coverage on shares of Semtech in a research report on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. Three 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, Semtech currently has a consensus rating of "Moderate Buy" and an average target price of $56.92.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now directly owns 13,481 shares in the company, valued at approximately $508,368.51. This represents a 17.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Semtech Price Performance

Shares of SMTC opened at $38.22 on Tuesday. Semtech Co. has a 1-year low of $24.05 and a 1-year high of $79.52. The company has a market capitalization of $3.31 billion, a P/E ratio of -2.93, a P/E/G ratio of 2.12 and a beta of 1.88. The firm's 50 day simple moving average is $32.44 and its 200 day simple moving average is $47.88.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $249.40 million. During the same period in the previous year, the company earned ($0.06) EPS. Semtech's quarterly revenue was up 30.1% on a year-over-year basis. On average, equities analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.

Semtech Company 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.

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