Capital World Investors Acquires Shares of 600,000 Semtech Co. (NASDAQ:SMTC)

Capital World Investors bought a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 600,000 shares of the semiconductor company's stock, valued at approximately $37,110,000. Capital World Investors owned approximately 0.79% of Semtech at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its stake in shares of Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock valued at $97,000 after purchasing an additional 337 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company's stock worth $196,000 after buying an additional 421 shares during the period. Hollencrest Capital Management bought a new stake in Semtech during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 505 shares during the period. Finally, Mariner LLC raised its position in shares of Semtech by 3.3% in the 4th quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock worth $1,122,000 after acquiring an additional 582 shares in the last quarter.

Semtech Price Performance

Semtech stock traded up $0.69 during trading hours on Friday, hitting $30.03. 1,828,842 shares of the stock traded hands, compared to its average volume of 2,112,583. The firm's 50 day moving average price is $33.34 and its 200-day moving average price is $48.70. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -2.30, a P/E/G ratio of 2.12 and a beta of 1.85. Semtech Co. has a 1 year low of $24.05 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. Semtech's quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) EPS. Research analysts forecast that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 2,990 shares of the firm's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total transaction of $177,755.50. Following the sale, the chief financial officer now owns 5,446 shares in the company, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 16,787 shares of company stock worth $665,044 over the last quarter. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on SMTC. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price objective on shares of Semtech in a research report on Friday, March 14th. Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Robert W. Baird decreased their target price on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. UBS Group lowered their target price on shares of Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Finally, Stifel Nicolaus reduced their price target on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.33.

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.