Northern Trust Corp Increases Holdings in Semtech Co. (NASDAQ:SMTC)

Northern Trust Corp increased its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 865,472 shares of the semiconductor company's stock after buying an additional 180,098 shares during the quarter. Northern Trust Corp owned 1.14% of Semtech worth $53,529,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after acquiring an additional 1,911,890 shares during the last quarter. Vanguard Group Inc. grew its stake in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after purchasing an additional 1,326,226 shares during the period. Capital World Investors acquired a new stake in Semtech in the fourth quarter valued at approximately $37,110,000. Portolan Capital Management LLC grew its stake in Semtech by 609.5% in the fourth quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock valued at $41,267,000 after acquiring an additional 573,175 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in Semtech in the fourth quarter valued at approximately $27,254,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMTC. Craig Hallum dropped their target price on Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Stifel Nicolaus dropped their price target on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. UBS Group dropped their price target on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Morgan Stanley started coverage on Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective on the stock. Finally, Robert W. Baird dropped their price objective on Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.92.

Insider Activity

In other Semtech news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Semtech Stock Performance

SMTC stock traded up $1.34 during trading on Tuesday, hitting $39.56. 455,139 shares of the company traded hands, compared to its average volume of 2,122,319. The firm has a market capitalization of $3.43 billion, a PE ratio of -3.03, a P/E/G ratio of 2.12 and a beta of 1.88. Semtech Co. has a 1 year low of $24.05 and a 1 year high of $79.52. The company has a 50-day moving average of $32.44 and a 200-day moving average of $47.88.

Semtech (NASDAQ:SMTC - Get Free Report) last released 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 business had revenue of $251.00 million during the quarter, compared to analysts' expectations of $249.40 million. During the same quarter last year, the business posted ($0.06) EPS. The company's quarterly revenue was up 30.1% compared to the same quarter last year. Sell-side analysts expect that Semtech Co. will post -0.02 EPS for the current year.

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.