Fisher Asset Management LLC Sells 124,483 Shares of Semtech Co. (NASDAQ:SMTC)

Fisher Asset Management LLC lowered its stake in Semtech Co. (NASDAQ:SMTC - Free Report) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,077,492 shares of the semiconductor company's stock after selling 124,483 shares during the period. Fisher Asset Management LLC owned approximately 1.68% of Semtech worth $23,608,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swiss National Bank raised its position in shares of Semtech by 1.2% during the third quarter. Swiss National Bank now owns 140,600 shares of the semiconductor company's stock worth $3,620,000 after purchasing an additional 1,600 shares during the period. Barclays PLC lifted its stake in Semtech by 4.9% during the third quarter. Barclays PLC now owns 43,595 shares of the semiconductor company's stock valued at $1,123,000 after buying an additional 2,039 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Semtech by 16.3% in the fourth quarter. ORG Partners LLC now owns 17,409 shares of the semiconductor company's stock worth $381,000 after buying an additional 2,440 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Semtech by 30.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,772 shares of the semiconductor company's stock worth $380,000 after acquiring an additional 3,437 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Semtech by 0.7% in the third quarter. Northern Trust Corp now owns 815,491 shares of the semiconductor company's stock worth $20,999,000 after acquiring an additional 5,858 shares in the last quarter.

Semtech Stock Up 0.9 %

SMTC traded up $0.33 during midday trading on Friday, hitting $39.01. 1,399,483 shares of the company's stock traded hands, compared to its average volume of 3,295,069. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79. The company has a market cap of $2.52 billion, a PE ratio of -2.29 and a beta of 1.70. The stock's fifty day simple moving average is $28.43 and its 200-day simple moving average is $22.13. Semtech Co. has a one year low of $13.13 and a one year high of $39.69.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). The business had revenue of $192.95 million for the quarter, compared to the consensus estimate of $191.24 million. Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. As a group, equities analysts anticipate that Semtech Co. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

SMTC has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $40.00 price objective (up previously from $30.00) on shares of Semtech in a research note on Monday, April 1st. Robert W. Baird lifted their price target on Semtech from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, April 1st. Craig Hallum upped their price target on Semtech from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Stifel Nicolaus raised their price objective on Semtech from $31.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Finally, Needham & Company LLC upped their target price on Semtech from $26.00 to $38.00 and gave the company a "buy" rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.85.

Insider Transactions at Semtech

In other news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $33.23 per share, with a total value of $33,230.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $33,230. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.