Victory Capital Management Inc. Grows Stake in Semtech Co. (NASDAQ:SMTC)

Victory Capital Management Inc. raised its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 81.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,369,043 shares of the semiconductor company's stock after acquiring an additional 613,274 shares during the period. Victory Capital Management Inc. owned about 2.13% of Semtech worth $29,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SMTC. Louisiana State Employees Retirement System acquired a new stake in shares of Semtech in the 4th quarter valued at about $703,000. Legato Capital Management LLC acquired a new position in Semtech during the 4th quarter worth approximately $201,000. SG Americas Securities LLC bought a new position in shares of Semtech during the 4th quarter worth approximately $164,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Semtech by 8.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 552,115 shares of the semiconductor company's stock valued at $14,217,000 after purchasing an additional 44,512 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Semtech by 76.7% in the third quarter. New York State Common Retirement Fund now owns 468,166 shares of the semiconductor company's stock worth $12,055,000 after purchasing an additional 203,182 shares in the last quarter.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $33.23 per share, with a total value of $33,230.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at approximately $33,230. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Semtech Price Performance

NASDAQ:SMTC traded up $1.04 during trading hours on Wednesday, reaching $40.85. 1,609,071 shares of the company were exchanged, compared to its average volume of 1,984,581. The company has a market capitalization of $2.64 billion, a P/E ratio of -2.34 and a beta of 1.70. 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 business has a 50 day moving average of $29.20 and a 200 day moving average of $22.47. Semtech Co. has a 1-year low of $13.13 and a 1-year high of $41.36.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Semtech from $31.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. Needham & Company LLC boosted their price target on Semtech from $26.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Oppenheimer reissued a "market perform" rating on shares of Semtech in a research report on Monday, April 1st. Craig Hallum lifted their target price on Semtech from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. Finally, Susquehanna increased their price target on Semtech from $30.00 to $45.00 and gave the company a "positive" rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.85.

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.