Dynamic Technology Lab Private Ltd purchased a new position in Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,431 shares of the semiconductor company's stock, valued at approximately $1,326,000.
A number of other large investors also recently added to or reduced their stakes in SMTC. Cerity Partners LLC purchased a new stake in shares of Semtech during the 3rd quarter valued at approximately $487,000. Captrust Financial Advisors acquired a new position in shares of Semtech during the third quarter worth about $333,000. Stifel Financial Corp purchased a new stake in shares of Semtech during the 3rd quarter worth $237,000. Wellington Management Group LLP acquired a new stake in shares of Semtech during the 3rd quarter worth about $10,556,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Semtech in the 3rd quarter valued at about $763,000.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SMTC. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Benchmark dropped their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Morgan Stanley initiated coverage on shares of Semtech in a report on Monday. They issued an "equal weight" rating and a $30.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of Semtech in a report on Friday, March 14th. Finally, Robert W. Baird lowered their target price on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $58.92.
View Our Latest Stock Report on SMTC
Semtech Price Performance
Shares of NASDAQ:SMTC traded down $1.04 during trading on Friday, reaching $25.96. 979,730 shares of the company's stock traded hands, compared to its average volume of 2,150,064. The company has a 50 day moving average of $37.47 and a 200-day moving average of $49.95. Semtech Co. has a 12 month low of $24.72 and a 12 month high of $79.52. The stock has a market capitalization of $2.25 billion, a P/E ratio of -1.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85.
Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate 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 posted ($0.06) EPS. Equities research analysts predict that Semtech Co. will post -0.02 earnings per share for the current fiscal year.
Insider Activity
In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now owns 76,417 shares in the company, valued at $5,349,190. This represents a 2.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the company's stock in a transaction dated Friday, January 17th. The stock was 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 directly owns 14 shares in the company, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,125 shares of company stock worth $905,394. Corporate insiders own 0.60% of the company's stock.
Semtech Profile
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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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