Empowered Funds LLC Purchases Shares of 8,421 Semtech Co. (NASDAQ:SMTC)

Empowered Funds LLC bought a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,421 shares of the semiconductor company's stock, valued at approximately $521,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Huntington National Bank raised its stake in Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock worth $27,000 after buying an additional 302 shares during the period. GAMMA Investing LLC raised its stake in shares of Semtech by 15.3% in 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 last quarter. Hanseatic Management Services Inc. raised its stake in shares of Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company's stock worth $658,000 after purchasing an additional 447 shares during the last quarter. Pacer Advisors Inc. raised its stake 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 worth $109,000 after purchasing an additional 598 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Semtech by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company's stock worth $515,000 after purchasing an additional 673 shares during the last quarter.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the chief operating officer now owns 76,417 shares in the company, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Lin sold 6,114 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. The trade was a 63.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,747 shares of company stock valued at $1,095,061. Company insiders own 0.60% of the company's stock.

Semtech Stock Performance

NASDAQ SMTC traded down $1.20 on Friday, hitting $37.51. 1,046,270 shares of the stock traded hands, compared to its average volume of 2,868,081. The business's fifty day moving average is $60.86 and its two-hundred day moving average is $50.89. Semtech Co. has a 12 month low of $19.76 and a 12 month high of $79.52. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -2.88, a PEG ratio of 2.07 and a beta of 1.64.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same period last year, the company posted $0.02 earnings per share. Semtech's revenue for the quarter was up 17.9% on a year-over-year basis. Analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMTC has been the subject of several analyst reports. Susquehanna increased their price objective on Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 21st. Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Craig Hallum increased their price target on Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.91.

About Semtech

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.