Semtech Co. (NASDAQ:SMTC) Position Decreased by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 43.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,966 shares of the semiconductor company's stock after selling 129,771 shares during the period. First Trust Advisors LP owned approximately 0.22% of Semtech worth $10,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SMTC. Stifel Financial Corp bought a new position in shares of Semtech during the 3rd quarter valued at about $237,000. Principal Financial Group Inc. boosted its holdings in shares of Semtech by 10.5% in the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company's stock worth $16,187,000 after buying an additional 33,606 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Semtech by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company's stock worth $196,000 after buying an additional 421 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Semtech by 117.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 92,395 shares of the semiconductor company's stock worth $5,715,000 after buying an additional 49,835 shares during the period. Finally, Moody National Bank Trust Division boosted its holdings in shares of Semtech by 148.6% in the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company's stock worth $1,272,000 after buying an additional 12,296 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on SMTC shares. Benchmark decreased their target price on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a report on Friday, March 14th. Morgan Stanley started coverage on shares of Semtech in a report on Monday, April 7th. They issued an "equal weight" rating and a $30.00 target price for the company. Piper Sandler reiterated an "overweight" rating and issued a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Stifel Nicolaus decreased their price target on shares of Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Robert W. Baird decreased their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.33.

Insider Buying and Selling

In related news, CFO Mark Lin sold 10,890 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,625 shares of the company's stock, valued at approximately $403,155. This represents a 48.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 16,787 shares of company stock valued at $665,044. Company insiders own 0.60% of the company's stock.

Semtech Stock Down 0.3 %

SMTC stock opened at $29.93 on Tuesday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -2.29, a P/E/G ratio of 2.12 and a beta of 1.85. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52. The firm has a 50 day moving average of $33.04 and a two-hundred day moving average of $48.61.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS 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 the consensus estimate of $249.40 million. The business's revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, research analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal 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.

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