27,976 Shares in Semtech Co. (NASDAQ:SMTC) Bought by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,976 shares of the semiconductor company's stock, valued at approximately $1,730,000.

Several other hedge funds have also made changes to their positions in the business. Hollencrest Capital Management acquired a new position in Semtech during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its stake in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after buying an additional 505 shares in the last quarter. AlphaQuest LLC lifted its holdings in Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after buying an additional 772 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Semtech in the 4th quarter valued at $91,000. Finally, Pacer Advisors Inc. lifted its position in Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock valued at $109,000 after acquiring an additional 598 shares during the last quarter.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of research reports. Northland Securities boosted their price objective on Semtech from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Benchmark lowered their price objective on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. UBS Group cut 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. Finally, Morgan Stanley assumed coverage on shares of Semtech in a report on Monday. They issued 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.92.

Insider Activity at Semtech

In other news, SVP Imran Sherazi sold 1,338 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares of the company's stock, valued at $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Lin sold 2,907 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,125 shares of company stock valued at $905,394. 0.60% of the stock is owned by corporate insiders.

Semtech Trading Down 1.2 %

Shares of SMTC stock traded down $0.34 during mid-day trading on Monday, reaching $27.67. The stock had a trading volume of 1,038,390 shares, compared to its average volume of 2,157,712. The company has a market cap of $2.39 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech Co. has a 12-month low of $24.89 and a 12-month high of $79.52. The business has a 50-day simple moving average of $41.67 and a 200 day simple moving average of $50.79.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results 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 business had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. During the same quarter last year, the business posted ($0.06) earnings per share. The business's revenue was up 30.1% compared to the same quarter last year. Research analysts anticipate that Semtech Co. will post -0.02 EPS for the current 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.