100,000 Shares in Semtech Co. (NASDAQ:SMTC) Purchased by Soros Fund Management LLC

Soros Fund Management LLC purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 100,000 shares of the semiconductor company's stock, valued at approximately $6,185,000. Soros Fund Management LLC owned about 0.13% of Semtech as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMTC. Morgan Stanley assumed coverage on shares of Semtech in a research note on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective on the stock. Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 14th. UBS Group decreased their price objective on shares of Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Stifel Nicolaus dropped their target price on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Benchmark reduced their price target on Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.33.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the transaction, the chief financial officer now directly owns 13,481 shares in the company, valued at $508,368.51. The trade was a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Semtech Trading Up 5.5 %

SMTC traded up $1.79 on Friday, hitting $34.13. 3,071,983 shares of the company's stock were exchanged, compared to its average volume of 2,116,354. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -2.62, a P/E/G ratio of 2.12 and a beta of 1.85. The firm has a 50-day moving average price of $32.69 and a 200-day moving average price of $48.28.

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, topping analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The business's revenue was up 30.1% compared to the same quarter last year. On average, equities analysts predict that Semtech Co. will post -0.02 EPS for the current year.

About Semtech

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.