Susquehanna Fundamental Investments LLC Takes Position in Semtech Co. (NASDAQ:SMTC)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,599 shares of the semiconductor company's stock, valued at approximately $2,511,000. Susquehanna Fundamental Investments LLC owned approximately 0.05% of Semtech at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMTC. Ghisallo Capital Management LLC acquired a new stake in shares of Semtech during the 4th quarter valued at about $14,226,000. Hood River Capital Management LLC lifted its stake in Semtech by 1.8% during the fourth quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company's stock worth $213,385,000 after purchasing an additional 59,743 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Semtech by 8.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,024,768 shares of the semiconductor company's stock valued at $63,382,000 after purchasing an additional 79,015 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Semtech by 405.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 478,145 shares of the semiconductor company's stock worth $29,574,000 after buying an additional 383,528 shares in the last quarter. Finally, Quantessence Capital LLC acquired a new position in shares of Semtech in the 4th quarter worth approximately $460,000.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of the firm'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 transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SMTC has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Stifel Nicolaus lowered their target price on shares of Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Morgan Stanley initiated coverage on shares of Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price target for the company. UBS Group decreased their price objective on shares of Semtech from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $55.00 target price (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and an average target price of $57.33.

Semtech Price Performance

Shares of NASDAQ SMTC traded up $1.79 during midday trading on Friday, hitting $34.13. The stock had a trading volume of 3,071,983 shares, 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 firm has a market cap of $2.96 billion, a P/E ratio of -2.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. The company's 50-day simple moving average is $32.63 and its 200 day simple moving average is $48.22.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts' consensus estimates 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. Semtech's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Equities analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal 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.