Jacobs Levy Equity Management Inc. Grows Position in Semtech Co. (NASDAQ:SMTC)

Jacobs Levy Equity Management Inc. increased its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,557 shares of the semiconductor company's stock after purchasing an additional 22,551 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.51% of Semtech worth $23,661,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management bought a new stake in Semtech during the 4th quarter worth about $31,000. Dunhill Financial LLC bought a new stake in Semtech during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC grew its holdings in Semtech by 190.6% during the 4th 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 Semtech during the 4th quarter worth about $52,000. Finally, AlphaQuest LLC boosted its stake in shares of Semtech by 173.5% in the 4th 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.

Analyst Upgrades and Downgrades

SMTC has been the topic of several recent research reports. Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Robert W. Baird dropped their target price on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Craig Hallum dropped their target price on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Needham & Company LLC restated a "buy" rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Finally, Morgan Stanley assumed coverage on shares of Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 target price on the stock. 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $56.92.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction dated 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

Semtech Stock Performance

Shares of SMTC stock traded up $0.39 during trading hours on Wednesday, hitting $39.93. 2,024,964 shares of the company were exchanged, compared to its average volume of 2,135,153. The firm has a market cap of $3.46 billion, a P/E ratio of -3.06, a P/E/G ratio of 2.12 and a beta of 1.88. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The company has a 50 day simple moving average of $32.71 and a two-hundred day simple moving average of $47.77.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. Semtech's revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, sell-side analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

Semtech Company 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.