Legal & General Group Plc increased its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 12.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,949 shares of the semiconductor company's stock after acquiring an additional 26,172 shares during the quarter. Legal & General Group Plc owned about 0.31% of Semtech worth $14,284,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SMTC. Quadrant Capital Group LLC boosted its position in shares of Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after purchasing an additional 337 shares in the last quarter. GAMMA Investing LLC raised its stake in Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company's stock worth $196,000 after buying an additional 421 shares during the period. Hollencrest Capital Management bought a new position in Semtech during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its stake in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 505 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock worth $109,000 after acquiring an additional 598 shares in the last quarter.
Insider Activity at Semtech
In related news, CFO Mark Lin sold 10,890 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20. Following the completion of the sale, the chief financial officer now owns 11,625 shares of the company's stock, valued at $403,155. This trade represents a 48.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 16,787 shares of company stock worth $665,044 in the last quarter. 0.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently commented on SMTC. Morgan Stanley started coverage on shares of Semtech in a report on Monday, April 7th. They set an "equal weight" rating and a $30.00 price objective on the stock. Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a report on Friday, March 14th. Robert W. Baird reduced their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Finally, Craig Hallum decreased their price target on Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and a consensus target price of $57.33.
Read Our Latest Report on SMTC
Semtech Stock Performance
Shares of Semtech stock traded up $0.23 on Friday, reaching $26.22. 1,919,571 shares of the stock were exchanged, compared to its average volume of 2,125,052. The firm's 50 day moving average is $34.19 and its 200-day moving average is $49.13. The firm has a market cap of $2.27 billion, a PE ratio of -2.01, a P/E/G ratio of 2.12 and a beta of 1.85. Semtech Co. has a one year low of $24.72 and a one year high of $79.52.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company's revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.
Semtech Company Profile
(
Free Report)
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.
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