Massar Capital Management LP Invests $1.76 Million in Semtech Co. (NASDAQ:SMTC)

Massar Capital Management LP purchased a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,448 shares of the semiconductor company's stock, valued at approximately $1,760,000. Semtech makes up 2.0% of Massar Capital Management LP's portfolio, making the stock its 20th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moody National Bank Trust Division boosted its holdings in shares of Semtech by 148.6% in the 4th quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company's stock valued at $1,272,000 after buying an additional 12,296 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Semtech by 15.8% in the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company's stock valued at $25,396,000 after buying an additional 56,108 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Semtech by 6.1% in the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock valued at $12,702,000 after buying an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Semtech in the 4th quarter valued at $2,680,000. Finally, Stephens Inc. AR acquired a new position in shares of Semtech in the 4th quarter valued at $889,000.

Semtech Trading Up 2.4 %

Shares of NASDAQ:SMTC traded up $0.69 during trading on Friday, hitting $30.03. 1,828,842 shares of the stock were exchanged, compared to its average volume of 2,114,927. The company has a fifty day moving average price of $33.20 and a two-hundred day moving average price of $48.71. The company has a market cap of $2.60 billion, a PE ratio of -2.30, a P/E/G ratio of 2.12 and a beta of 1.85. Semtech Co. has a 12-month low of $24.05 and a 12-month 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 earnings per share (EPS) 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 analyst estimates of $249.40 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The company's revenue for the quarter was up 30.1% on a year-over-year basis. Equities research analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Robert W. Baird reduced 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. Stifel Nicolaus reduced 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. Morgan Stanley started coverage on shares of Semtech in a research report on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price target for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and an average target price of $57.33.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 10,890 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. The trade was a 48.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 16,787 shares of company stock worth $665,044 in the last ninety days. 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.