Semtech Co. (NASDAQ:SMTC) Shares Purchased by Swiss National Bank

Swiss National Bank lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 31.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,000 shares of the semiconductor company's stock after purchasing an additional 39,700 shares during the quarter. Swiss National Bank owned about 0.22% of Semtech worth $10,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SMTC. Hollencrest Capital Management acquired a new position in Semtech in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 holdings in Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after buying an additional 772 shares during the period. Pacer Advisors Inc. lifted its position in Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock valued at $109,000 after buying an additional 598 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Semtech by 15.3% during the fourth 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.

Insider Buying and Selling

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

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Semtech Stock Performance

Shares of SMTC traded up $0.72 during midday trading on Monday, hitting $40.34. 1,469,433 shares of the stock traded hands, compared to its average volume of 2,214,951. The business's 50 day moving average price is $49.04 and its two-hundred day moving average price is $51.18. The firm has a market capitalization of $3.05 billion, a PE ratio of -3.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech Co. has a 1-year low of $22.13 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, equities research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMTC has been the topic of several recent research reports. Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, March 14th. B. Riley lifted their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Stifel Nicolaus lowered their price target 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. Robert W. Baird dropped their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Northland Securities raised their target price on Semtech from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.55.

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.