Sherbrooke Park Advisers LLC Takes $793,000 Position in Semtech Co. (NASDAQ:SMTC)

Sherbrooke Park Advisers LLC acquired a new position in Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,824 shares of the semiconductor company's stock, valued at approximately $793,000.

Several other institutional investors have also recently bought and sold shares of SMTC. Hollencrest Capital Management bought a new position in Semtech in the 4th quarter worth approximately $31,000. Dunhill Financial LLC bought a new position in Semtech in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its position in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in Semtech in the 4th quarter worth approximately $52,000. Finally, AlphaQuest LLC raised its position in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 772 shares during the last quarter.

Semtech Trading Down 0.7%

Shares of SMTC stock traded down $0.28 on Monday, hitting $40.14. The stock had a trading volume of 1,057,524 shares, compared to its average volume of 2,137,762. Semtech Co. has a twelve month low of $24.05 and a twelve month high of $79.52. The firm has a market cap of $3.48 billion, a P/E ratio of -3.08, a PEG ratio of 2.12 and a beta of 1.88. The company has a fifty day moving average price of $33.16 and a two-hundred day moving average price of $47.68.

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

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 10,890 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $403,155. The trade was a 48.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

SMTC has been the subject of several research analyst reports. Craig Hallum dropped their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Robert W. Baird lowered their target price 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. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Benchmark lowered 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.

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.