LMR Partners LLP Acquires Shares of 12,537 Semtech Co. (NASDAQ:SMTC)

LMR Partners LLP acquired a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,537 shares of the semiconductor company's stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. Hollencrest Capital Management acquired a new stake in Semtech during the fourth quarter worth about $31,000. Dunhill Financial LLC acquired a new stake in Semtech during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech during the fourth quarter worth about $52,000. Finally, AlphaQuest LLC increased its position in shares of Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after acquiring an additional 772 shares during the last quarter.

Semtech Stock Up 2.0%

NASDAQ SMTC traded up $0.78 on Friday, hitting $40.42. 1,437,440 shares of the stock were exchanged, compared to its average volume of 2,136,802. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The company has a market cap of $3.50 billion, a PE ratio of -3.10, a PEG ratio of 2.12 and a beta of 1.88. The company has a 50-day moving average price of $33.04 and a 200-day moving average price of $47.68.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. The firm's quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. As a group, equities research analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. UBS Group dropped their price target on shares of 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 dropped their price target on shares of Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Benchmark dropped 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, Morgan Stanley assumed coverage on shares of Semtech in a research report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price target for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares in the company, valued at $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 is available through the SEC website. 0.60% of the stock is owned by insiders.

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.