Sei Investments Co. Grows Stake in Semtech Co. (NASDAQ:SMTC)

Sei Investments Co. boosted its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,544 shares of the semiconductor company's stock after purchasing an additional 36,558 shares during the quarter. Sei Investments Co. owned approximately 0.26% of Semtech worth $12,033,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SMTC. Disciplined Growth Investors Inc. MN grew its position in shares of Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company's stock worth $119,172,000 after buying an additional 114,999 shares in the last quarter. Geode Capital Management LLC grew its holdings in Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company's stock worth $73,883,000 after acquiring an additional 119,572 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Semtech by 0.4% in the 4th 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 in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech during the 3rd quarter worth $32,126,000. Finally, Fred Alger Management LLC grew its stake in shares of Semtech by 40.0% during the third quarter. Fred Alger Management LLC now owns 670,173 shares of the semiconductor company's stock worth $30,600,000 after purchasing an additional 191,347 shares in the last quarter.

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Semtech Trading Up 1.3 %

Shares of SMTC traded up $0.46 during mid-day trading on Tuesday, hitting $34.86. 2,320,731 shares of the company's stock were exchanged, compared to its average volume of 2,816,881. Semtech Co. has a fifty-two week low of $27.25 and a fifty-two week high of $79.52. The business's 50 day moving average is $45.13 and its two-hundred day moving average is $51.06. The firm has a market capitalization of $3.02 billion, a P/E ratio of -2.67, a P/E/G ratio of 2.12 and a beta of 1.69.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on SMTC shares. UBS Group decreased their price target on Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a report on Friday, March 14th. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Stifel Nicolaus lowered their target price on shares of Semtech from $60.00 to $54.00 and set a "buy" rating for the company in a report on Friday, March 14th. Finally, Northland Securities lifted their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Semtech currently has an average rating of "Moderate Buy" and a consensus price target of $61.55.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 1,359 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the transaction, the chief financial officer now directly owns 4,164 shares of the company's stock, valued at approximately $271,284.60. This represents a 24.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares of the company's stock, valued at $5,349,190. This represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,484 shares of company stock valued at $993,933. 0.60% of the stock is owned by company insiders.

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.