PDT Partners LLC Has $2.49 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

PDT Partners LLC reduced its position in Semtech Co. (NASDAQ:SMTC - Free Report) by 41.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,268 shares of the semiconductor company's stock after selling 28,415 shares during the period. PDT Partners LLC owned about 0.05% of Semtech worth $2,491,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in shares of Semtech during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Semtech during the fourth quarter worth approximately $52,000. AlphaQuest LLC grew its position in shares of Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 772 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Semtech during the fourth quarter worth approximately $91,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on SMTC shares. Stifel Nicolaus decreased their price objective on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Benchmark lowered their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. UBS Group decreased their target price on shares of Semtech from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Finally, Piper Sandler reissued an "overweight" rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Semtech currently has an average rating of "Moderate Buy" and an average price target of $57.33.

Semtech Price Performance

NASDAQ:SMTC traded up $1.79 during trading hours on Friday, hitting $34.13. The company's stock had a trading volume of 3,071,983 shares, compared to its average volume of 2,116,354. Semtech Co. has a twelve month low of $24.05 and a twelve month high of $79.52. The stock has a fifty day simple moving average of $32.63 and a 200-day simple moving average of $48.22. The company has a market capitalization of $2.96 billion, a P/E ratio of -2.62, a PEG ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The company's revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) earnings per share. On average, equities analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares in the company, valued at $403,155. This trade represents a 48.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.

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.