Fisher Asset Management LLC Sells 124,207 Shares of Semtech Co. (NASDAQ:SMTC)

Fisher Asset Management LLC trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,077,768 shares of the semiconductor company's stock after selling 124,207 shares during the quarter. Fisher Asset Management LLC owned approximately 1.68% of Semtech worth $23,614,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SMTC. Cape Investment Advisory Inc. purchased a new stake in shares of Semtech during the fourth quarter worth approximately $63,000. Tower Research Capital LLC TRC increased its position in shares of Semtech by 67.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 1,871 shares in the last quarter. Partnership Wealth Management LLC purchased a new stake in Semtech in the 4th quarter valued at $141,000. SG Americas Securities LLC purchased a new stake in Semtech in the 4th quarter valued at $164,000. Finally, Legato Capital Management LLC purchased a new stake in Semtech in the 4th quarter valued at $201,000.

Semtech Trading Down 4.1 %

SMTC traded down $1.25 during mid-day trading on Wednesday, hitting $29.50. 1,583,075 shares of the stock were exchanged, compared to its average volume of 2,464,891. The firm's fifty day moving average is $36.28 and its two-hundred day moving average is $27.09. Semtech Co. has a 1-year low of $13.13 and a 1-year high of $46.86. The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 4.11. The company has a market cap of $1.91 billion, a PE ratio of -1.74 and a beta of 1.63.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm had revenue of $192.95 million for the quarter, compared to analyst estimates of $191.24 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. Equities analysts forecast that Semtech Co. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In related news, CFO Mark Lin purchased 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company's stock, valued at $33,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on SMTC. StockNews.com upgraded Semtech from a "sell" rating to a "hold" rating in a report on Thursday, June 6th. Needham & Company LLC upped their target price on Semtech from $38.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, June 6th. B. Riley upped their target price on Semtech from $43.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 17th. Oppenheimer reiterated a "market perform" rating on shares of Semtech in a report on Monday, April 1st. Finally, Piper Sandler reiterated an "overweight" rating and set a $60.00 price target (up from $40.00) on shares of Semtech in a report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.90.

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.