Natixis Buys 106,900 Shares of Semtech Co. (NASDAQ:SMTC)

Natixis lifted its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 1,517.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,943 shares of the semiconductor company's stock after purchasing an additional 106,900 shares during the quarter. Natixis owned about 0.15% of Semtech worth $7,047,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SMTC. Vanguard Group Inc. boosted its holdings in Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after acquiring an additional 1,326,226 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after purchasing an additional 1,911,890 shares in the last quarter. Geode Capital Management LLC grew its position in Semtech by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company's stock valued at $112,317,000 after purchasing an additional 197,732 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Semtech by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company's stock valued at $65,677,000 after purchasing an additional 3,991 shares in the last quarter. Finally, Portolan Capital Management LLC raised its holdings in Semtech by 609.5% during the fourth quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock worth $41,267,000 after buying an additional 573,175 shares during the last quarter.

Semtech Trading Up 2.4 %

Shares of NASDAQ:SMTC traded up $0.69 during mid-day trading on Friday, reaching $30.03. The company had a trading volume of 1,828,842 shares, compared to its average volume of 2,113,073. The company's 50-day moving average price is $33.20 and its 200-day moving average price is $48.62. Semtech Co. has a one year low of $24.05 and a one year high of $79.52. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -2.30, a PEG ratio of 2.12 and a beta of 1.85.

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, beating analysts' consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. During the same period in the prior year, the company earned ($0.06) EPS. The firm's quarterly revenue was up 30.1% on a year-over-year basis. On average, research analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Lin sold 10,890 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were 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. This trade represents a 48.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 16,787 shares of company stock valued at $665,044 over the last quarter. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SMTC shares. Craig Hallum decreased their target price on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. UBS Group decreased their price objective on Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a report on Friday, March 14th. Piper Sandler restated 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. Benchmark cut their target price on Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Robert W. Baird lowered 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $57.33.

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.