Entropy Technologies LP Purchases New Holdings in Semtech Co. (NASDAQ:SMTC)

Entropy Technologies LP bought a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,166 shares of the semiconductor company's stock, valued at approximately $629,000.

Other large investors have also made changes to their positions in the company. Huntington National Bank increased its position in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 302 shares in the last quarter. NBC Securities Inc. increased its position in shares of Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock worth $62,000 after purchasing an additional 739 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company's stock valued at $77,000 after buying an additional 1,652 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Semtech by 51.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock valued at $109,000 after buying an additional 598 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Semtech in the 3rd quarter valued at $125,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SMTC shares. B. Riley upped their target price on Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Benchmark upped their target price on Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a report on Monday, November 25th. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Finally, Needham & Company LLC decreased their price target on Semtech from $74.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $67.91.

Insiders Place Their Bets

In related news, SVP Imran Sherazi sold 1,338 shares of the company's stock in a transaction on 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. This represents a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Lin sold 2,990 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the transaction, the chief financial officer now owns 5,446 shares of the company's stock, valued at $323,764.70. The trade was a 35.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,747 shares of company stock worth $1,095,061. 0.60% of the stock is owned by corporate insiders.

Semtech Stock Up 1.8 %

NASDAQ:SMTC traded up $0.65 during mid-day trading on Friday, reaching $37.38. 2,182,095 shares of the stock were exchanged, compared to its average volume of 2,076,627. The company has a 50 day simple moving average of $62.97 and a 200-day simple moving average of $50.84. The stock has a market capitalization of $2.83 billion, a P/E ratio of -2.86, a P/E/G ratio of 2.98 and a beta of 1.64. Semtech Co. has a 1 year low of $19.20 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. The company's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS.

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.