Moody Aldrich Partners LLC Purchases New Position in Semtech Co. (NASDAQ:SMTC)

Moody Aldrich Partners LLC purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 56,317 shares of the semiconductor company's stock, valued at approximately $3,483,000. Moody Aldrich Partners LLC owned approximately 0.07% of Semtech at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Semtech by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock valued at $109,000 after acquiring an additional 598 shares during the period. KBC Group NV lifted its position in Semtech by 113.0% during the fourth quarter. KBC Group NV now owns 3,498 shares of the semiconductor company's stock valued at $216,000 after purchasing an additional 1,856 shares during the period. Accel Wealth Management purchased a new stake in Semtech in the fourth quarter worth approximately $204,000. Inspire Investing LLC grew its position in Semtech by 119.7% in the 4th quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company's stock worth $1,364,000 after purchasing an additional 12,016 shares during the period. Finally, SG Americas Securities LLC raised its stake in Semtech by 643.7% during the 4th quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company's stock valued at $3,545,000 after buying an additional 49,609 shares during the last quarter.

Analyst Upgrades and Downgrades

SMTC has been the subject of several research analyst reports. UBS Group assumed coverage on Semtech in a report on Friday, January 17th. They issued a "buy" rating and a $85.00 price objective for the company. Piper Sandler restated an "overweight" rating and set a $75.00 price target (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. B. Riley increased their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Northland Securities boosted their target price on shares of Semtech from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC increased their price target on shares of Semtech from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $71.09.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the transaction, the senior vice president now directly owns 14 shares of the company's stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by corporate insiders.

Semtech Trading Down 1.1 %

Semtech stock traded down $0.73 during mid-day trading on Friday, hitting $66.96. The stock had a trading volume of 2,341,477 shares, compared to its average volume of 1,790,363. The firm's 50 day moving average is $65.80 and its 200 day moving average is $49.58. The firm has a market capitalization of $5.07 billion, a P/E ratio of -5.13 and a beta of 1.65. Semtech Co. has a one year low of $18.72 and a one year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm had revenue of $236.80 million during the quarter, compared to analysts' expectations of $232.89 million. During the same quarter last year, the business posted $0.02 earnings per share. The firm's revenue was up 17.9% on a year-over-year basis.

Semtech Company 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.