Numerai GP LLC Lowers Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Numerai GP LLC trimmed its stake in Semtech Co. (NASDAQ:SMTC - Free Report) by 54.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,920 shares of the semiconductor company's stock after selling 20,353 shares during the period. Numerai GP LLC's holdings in Semtech were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its holdings in shares of Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after buying an additional 337 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Semtech during the 4th quarter worth approximately $31,000. Dunhill Financial LLC purchased a new position in shares of Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 505 shares during the period. Finally, Mariner LLC increased its holdings in shares of Semtech by 3.3% in the fourth quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock valued at $1,122,000 after purchasing an additional 582 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SMTC. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a research report on Friday, March 14th. UBS Group lowered their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Robert W. Baird dropped their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Morgan Stanley initiated coverage on shares of Semtech in a research report on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.92.

Insider Buying and Selling

In related news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares of the company's stock, valued at approximately $508,368.51. The trade was a 17.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company's stock.

Semtech Price Performance

Semtech stock traded up $0.02 during trading hours on Tuesday, hitting $40.16. The stock had a trading volume of 201,466 shares, compared to its average volume of 2,646,717. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -3.07, a PEG 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 stock's fifty day moving average is $33.16 and its two-hundred day moving average is $47.68.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. The business's revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, sell-side analysts anticipate that Semtech Co. will post -0.02 EPS for the current year.

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.