Royce & Associates LP Lowers Stock Position in Semtech Co. (NASDAQ:SMTC)

Royce & Associates LP reduced its position in Semtech Co. (NASDAQ:SMTC - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,500 shares of the semiconductor company's stock after selling 13,000 shares during the period. Royce & Associates LP owned about 0.09% of Semtech worth $4,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC lifted its stake in shares of Semtech by 54.8% in the 4th quarter. Natixis Advisors LLC now owns 55,139 shares of the semiconductor company's stock valued at $3,410,000 after purchasing an additional 19,529 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Semtech by 42.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,468 shares of the semiconductor company's stock valued at $524,000 after purchasing an additional 2,533 shares during the period. Swiss National Bank lifted its stake in shares of Semtech by 31.4% in the 4th quarter. Swiss National Bank now owns 166,000 shares of the semiconductor company's stock valued at $10,267,000 after purchasing an additional 39,700 shares during the period. Burkehill Global Management LP acquired a new position in shares of Semtech in the 4th quarter valued at $18,555,000. Finally, Essential Planning LLC. acquired a new position in shares of Semtech in the 4th quarter valued at $1,069,000.

Semtech Stock Down 2.5 %

Shares of Semtech stock traded down $1.02 during trading hours on Friday, reaching $39.62. 3,375,275 shares of the company's stock were exchanged, compared to its average volume of 2,217,808. Semtech Co. has a 1 year low of $22.13 and a 1 year high of $79.52. The company has a market capitalization of $3.00 billion, a P/E ratio of -3.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The business has a fifty day moving average of $49.04 and a two-hundred day moving average of $51.12.

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Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $251.00 million during the quarter, compared to analysts' expectations of $249.40 million. During the same period in the prior year, the company posted ($0.06) EPS. The company's revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, research analysts predict that Semtech Co. will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Semtech from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 14th. UBS Group reduced their price objective on shares of Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Benchmark reduced their price objective on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Roth Mkm upped their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Craig Hallum reduced their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Semtech currently has an average rating of "Moderate Buy" and an average price target of $61.55.

Insider Activity at Semtech

In related news, SVP Imran Sherazi sold 1,338 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares of the company's stock, valued at approximately $1,050. This represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Lin sold 1,359 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares of the company's stock, valued at $271,284.60. This represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,577 shares of company stock valued at $884,310. 0.60% of the stock is owned by company insiders.

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.