Massar Capital Management LP Invests $1.76 Million in Semtech Co. (NASDAQ:SMTC)

Massar Capital Management LP purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 28,448 shares of the semiconductor company's stock, valued at approximately $1,760,000. Semtech comprises 2.0% of Massar Capital Management LP's investment portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of SMTC. Vanguard Group Inc. raised its holdings in Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after acquiring an additional 1,326,226 shares during the period. Wellington Management Group LLP raised its position 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 buying an additional 1,911,890 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Semtech by 12.2% during 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 acquiring an additional 197,732 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Semtech by 0.4% during the fourth 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. Finally, Portolan Capital Management LLC lifted its holdings in shares of Semtech by 609.5% during the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company's stock worth $41,267,000 after acquiring an additional 573,175 shares during the last quarter.

Semtech Stock Up 2.4 %

Shares of NASDAQ:SMTC traded up $0.69 during trading on Friday, hitting $30.03. The stock had a trading volume of 1,828,842 shares, compared to its average volume of 2,113,072. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a market capitalization of $2.60 billion, a PE ratio of -2.30, a PEG ratio of 2.12 and a beta of 1.85. The firm's fifty day moving average is $33.20 and its 200 day moving average is $48.62.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its 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 business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter last year, the firm posted ($0.06) EPS. The business's quarterly revenue was up 30.1% on a year-over-year basis. Equities research analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now directly owns 13,481 shares in the company, valued at $508,368.51. The trade was a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 16,787 shares of company stock valued at $665,044 in the last quarter. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SMTC. Benchmark decreased their price objective on Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Needham & Company LLC restated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Friday, March 14th. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Craig Hallum lowered their price target 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. Finally, Morgan Stanley assumed coverage on Semtech in a research note on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective on the stock. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.33.

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.