Cibc World Markets Corp Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Cibc World Markets Corp bought a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,799 shares of the semiconductor company's stock, valued at approximately $421,000.

Several other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in Semtech in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC increased its stake in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 505 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Semtech by 173.5% in the fourth 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. Pacer Advisors Inc. increased its holdings in shares of 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 purchasing an additional 598 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 421 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have commented on SMTC. Stifel Nicolaus lowered their price target on shares of Semtech from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, March 14th. UBS Group cut their target price on shares of Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a report on Friday, March 14th. Northland Securities increased their price target on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Robert W. Baird cut their price objective on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.55.

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Insider Activity

In other news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the sale, the senior vice president now owns 14 shares of the company's stock, valued at approximately $1,050. This represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the transaction, the chief financial officer now owns 4,164 shares of the company's stock, valued at $271,284.60. This trade represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,577 shares of company stock valued at $884,310 in the last 90 days. Company insiders own 0.60% of the company's stock.

Semtech Price Performance

NASDAQ SMTC traded down $1.74 during trading hours on Thursday, hitting $36.95. 1,888,916 shares of the company's stock traded hands, compared to its average volume of 2,208,157. The firm's 50-day moving average is $47.38 and its 200-day moving average is $51.08. Semtech Co. has a 52-week low of $25.78 and a 52-week high of $79.52. The company has a market capitalization of $2.80 billion, a PE ratio of -2.83, a PEG ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period last year, the firm posted ($0.06) EPS. The business's quarterly revenue was up 30.1% on a year-over-year basis. Equities research analysts predict that Semtech Co. will post -0.02 earnings per share for the current fiscal 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.