Neuberger Berman Group LLC Reduces Holdings in Semtech Co. (NASDAQ:SMTC)

Neuberger Berman Group LLC trimmed its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,282,973 shares of the semiconductor company's stock after selling 71,693 shares during the quarter. Neuberger Berman Group LLC owned 1.70% of Semtech worth $79,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in Semtech during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC increased 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 period. AlphaQuest LLC raised its position in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 772 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Semtech during the fourth quarter worth about $91,000. Finally, Quadrant Capital Group LLC raised its holdings in Semtech by 27.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock valued at $97,000 after acquiring an additional 337 shares in the last quarter.

Insider Activity

In related news, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now directly owns 76,417 shares of the company's stock, valued at $5,349,190. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $177,755.50. Following the transaction, the chief financial officer now directly owns 5,446 shares of the company's stock, valued at approximately $323,764.70. This represents a 35.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock valued at $905,394 in the last three months. 0.60% of the stock is currently owned by company insiders.

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Semtech Trading Up 3.0 %

Shares of SMTC traded up $0.80 during mid-day trading on Tuesday, hitting $27.80. 680,552 shares of the company's stock were exchanged, compared to its average volume of 2,141,242. The firm has a market capitalization of $2.40 billion, a P/E ratio of -2.13, a P/E/G ratio of 2.12 and a beta of 1.85. Semtech Co. has a fifty-two week low of $24.72 and a fifty-two week high of $79.52. The business's 50 day moving average is $35.89 and its two-hundred day moving average is $49.69.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The company's revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. On average, equities research analysts forecast that Semtech Co. will post -0.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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. Robert W. Baird lowered their price objective on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Stifel Nicolaus decreased their target price on Semtech from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Benchmark dropped their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley assumed coverage on shares of Semtech in a research report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective for the company. Three 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.92.

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.