Fuller & Thaler Asset Management Inc. Grows Position in Semtech Co. (NASDAQ:SMTC)

Fuller & Thaler Asset Management Inc. grew its stake in Semtech Co. (NASDAQ:SMTC - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,024,768 shares of the semiconductor company's stock after purchasing an additional 79,015 shares during the period. Fuller & Thaler Asset Management Inc. owned about 1.35% of Semtech worth $63,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SMTC. Hollencrest Capital Management acquired a new position in Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its holdings in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Semtech in the 4th quarter worth approximately $52,000. AlphaQuest LLC increased its position in shares of Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after buying an additional 772 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Semtech in the fourth quarter valued at $91,000.

Semtech Price Performance

SMTC traded up $0.58 during trading on Tuesday, hitting $30.51. 609,132 shares of the stock traded hands, compared to its average volume of 2,108,783. The firm has a market capitalization of $2.64 billion, a P/E ratio of -2.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech Co. has a 12-month low of $24.05 and a 12-month high of $79.52. The firm has a 50-day moving average of $33.04 and a 200 day moving average of $48.61.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same quarter last year, the company posted ($0.06) earnings per share. The firm's revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, equities analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Lin sold 10,890 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were 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 $403,155. This represents a 48.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 16,787 shares of company stock valued at $665,044 over the last three months. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on SMTC. Robert W. Baird cut their price objective 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. Benchmark reduced their target price 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. UBS Group lowered their price target on shares of Semtech from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Morgan Stanley began coverage on Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Semtech has an average rating of "Moderate Buy" and a consensus price target of $57.33.

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.