ExodusPoint Capital Management LP Buys 27,994 Shares of Semtech Co. (NASDAQ:SMTC)

ExodusPoint Capital Management LP raised its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 132.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,193 shares of the semiconductor company's stock after purchasing an additional 27,994 shares during the quarter. ExodusPoint Capital Management LP owned 0.06% of Semtech worth $3,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SMTC. Vanguard Group Inc. lifted its position in shares of Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after buying an additional 1,326,226 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company's stock worth $119,172,000 after acquiring an additional 114,999 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after acquiring an additional 1,911,890 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Semtech by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company's stock valued at $112,317,000 after purchasing an additional 197,732 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Semtech by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company's stock valued at $65,677,000 after purchasing an additional 3,991 shares during the last quarter.

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Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 10,890 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now owns 11,625 shares in the company, valued at approximately $403,155. This represents a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the business's 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 sale, the chief operating officer now owns 76,417 shares of the company's stock, valued at approximately $5,349,190. This represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock valued at $905,394 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on SMTC shares. Craig Hallum dropped their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Morgan Stanley assumed coverage on Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective on the stock. Stifel Nicolaus lowered their target price on Semtech from $60.00 to $54.00 and set a "buy" rating for the company in a report on Friday, March 14th. Robert W. Baird dropped their target price 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 restated an "overweight" rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Semtech presently has a consensus rating of "Moderate Buy" and an average target price of $58.92.

Semtech Stock Performance

Shares of NASDAQ:SMTC traded down $0.40 during trading on Friday, reaching $26.60. The stock had a trading volume of 3,042,116 shares, compared to its average volume of 2,151,241. Semtech Co. has a 52 week low of $24.72 and a 52 week high of $79.52. The firm's fifty day moving average is $36.68 and its 200 day moving average is $49.80. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -2.04, a P/E/G ratio of 2.12 and a beta of 1.85.

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

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.