Hood River Capital Management LLC Purchases 59,743 Shares of Semtech Co. (NASDAQ:SMTC)

Hood River Capital Management LLC raised its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,450,042 shares of the semiconductor company's stock after acquiring an additional 59,743 shares during the period. Semtech makes up 3.2% of Hood River Capital Management LLC's holdings, making the stock its 2nd largest position. Hood River Capital Management LLC owned 4.56% of Semtech worth $213,385,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have weighed in on SMTC shares. Stifel Nicolaus lowered their price target on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Craig Hallum lowered their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 target price on shares of Semtech in a research note on Friday, March 14th. UBS Group cut their price objective on Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, Robert W. Baird cut their price target on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.33.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $24.69 on Wednesday. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The company's 50 day moving average price is $33.70 and its 200-day moving average price is $48.95. The company has a market capitalization of $2.14 billion, a P/E ratio of -1.89, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85.

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

Insider Activity

In related news, CFO Mark Lin sold 2,990 shares of Semtech stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total transaction of $177,755.50. Following the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 16,787 shares of company stock worth $665,044 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

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.

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