Ghisallo Capital Management LLC acquired a new stake in Semtech Co. (NASDAQ:SMTC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 230,000 shares of the semiconductor company's stock, valued at approximately $14,226,000. Semtech makes up approximately 0.8% of Ghisallo Capital Management LLC's holdings, making the stock its 24th largest position. Ghisallo Capital Management LLC owned about 0.30% of Semtech as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in SMTC. Hollencrest Capital Management bought a new position in Semtech during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC grew its holdings in shares of Semtech by 190.6% during 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech in the 4th quarter valued at approximately $52,000. AlphaQuest LLC lifted its stake in 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 acquiring an additional 772 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Semtech in the 4th quarter valued at approximately $91,000.
Semtech Price Performance
Shares of NASDAQ SMTC traded down $0.10 during trading on Monday, hitting $29.93. The stock had a trading volume of 1,918,970 shares, compared to its average volume of 2,114,143. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a market capitalization of $2.59 billion, a PE ratio of -2.29, a PEG ratio of 2.12 and a beta of 1.85. The firm has a fifty day moving average of $33.04 and a two-hundred day moving average of $48.61.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. The business's revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. On average, equities analysts expect that Semtech Co. will post -0.02 earnings per share for the current fiscal year.
Insider Activity at Semtech
In related news, CFO Mark Lin sold 10,890 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. The trade was a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 16,787 shares of company stock worth $665,044. Corporate insiders own 0.60% of the company's stock.
Analyst Ratings Changes
SMTC has been the topic of several research reports. UBS Group cut their target price on Semtech from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Morgan Stanley started coverage on Semtech in a research report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Finally, Robert W. Baird lowered their price target on Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and an average price target of $57.33.
Read Our Latest Stock Report on SMTC
About Semtech
(
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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