Boothbay Fund Management LLC grew its position in Semtech Co. (NASDAQ:SMTC - Free Report) by 48.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,663 shares of the semiconductor company's stock after purchasing an additional 13,348 shares during the period. Boothbay Fund Management LLC owned about 0.05% of Semtech worth $2,515,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after buying an additional 1,911,890 shares in the last quarter. 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 valued at $713,906,000 after acquiring an additional 1,326,226 shares during the last quarter. Capital World Investors acquired a new stake in Semtech in the fourth quarter worth about $37,110,000. Portolan Capital Management LLC raised its holdings in Semtech by 609.5% during the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock worth $41,267,000 after purchasing an additional 573,175 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Semtech during the 4th quarter valued at about $27,254,000.
Semtech Price Performance
SMTC stock traded up $1.09 during mid-day trading on Thursday, reaching $32.34. The company had a trading volume of 2,790,151 shares, compared to its average volume of 2,115,283. Semtech Co. has a 52 week low of $24.05 and a 52 week high of $79.52. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -2.48, a PEG ratio of 2.12 and a beta of 1.85. The stock has a 50 day simple moving average of $32.77 and a two-hundred day simple moving average of $48.37.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. Semtech's quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, equities analysts predict that Semtech Co. will post -0.02 EPS for the current year.
Wall Street Analyst Weigh In
SMTC has been the topic of several analyst reports. Piper Sandler restated an "overweight" rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Benchmark reduced their price target on Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley started coverage on Semtech in a research note on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price target for the company. UBS Group reduced their target price on Semtech from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Stifel Nicolaus lowered their target price on Semtech from $54.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.33.
Get Our Latest Stock Analysis on Semtech
Insiders Place Their Bets
In other news, CFO Mark Lin sold 10,890 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now directly owns 11,625 shares of the company's stock, valued at $403,155. This represents a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company's stock.
Semtech Profile
(
Free Report)
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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