Semtech Co. (NASDAQ:SMTC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 939,487 shares of the semiconductor company's stock after selling 105,404 shares during the period. Fisher Asset Management LLC owned about 1.24% of Semtech worth $58,107,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SMTC. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech in the 3rd quarter valued at $32,126,000. Victory Capital Management Inc. boosted its holdings in shares of Semtech by 130.7% in the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company's stock valued at $37,633,000 after acquiring an additional 466,868 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Semtech by 198.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company's stock worth $18,940,000 after buying an additional 275,717 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Semtech during the fourth quarter worth $15,180,000. Finally, Wellington Management Group LLP purchased a new stake in Semtech during the third quarter worth $10,556,000.

Insider Activity

In related news, SVP Imran Sherazi sold 1,338 shares of the firm's 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 completion of the sale, the senior vice president now directly owns 14 shares in the company, valued at approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Lin sold 6,114 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the sale, the chief financial officer now owns 3,531 shares of the company's stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock worth $1,095,061 over the last three months. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SMTC. Roth Mkm increased their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Craig Hallum increased their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Robert W. Baird lowered their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Northland Securities increased their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Finally, UBS Group began coverage on shares of Semtech in a report on Friday, January 17th. They set a "buy" rating and a $85.00 price target on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Semtech presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.91.

Semtech Stock Performance

Shares of NASDAQ SMTC traded down $2.61 during mid-day trading on Monday, reaching $35.58. The company's stock had a trading volume of 2,368,571 shares, compared to its average volume of 2,808,412. The stock has a 50-day moving average of $56.99 and a two-hundred day moving average of $51.47. The stock has a market capitalization of $2.69 billion, a P/E ratio of -2.73, a P/E/G ratio of 2.12 and a beta of 1.64. Semtech Co. has a 1-year low of $21.48 and a 1-year high of $79.52.

Semtech 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.