Semtech Co. (NASDAQ:SMTC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Semtech Co. (NASDAQ:SMTC) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,166 shares of the semiconductor company’s stock after purchasing an additional 421 shares during the quarter. GAMMA Investing LLC’s holdings in Semtech were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Semtech by 10.5% during the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company’s stock worth $16,187,000 after buying an additional 33,606 shares during the last quarter. Geode Capital Management LLC increased its stake in Semtech by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after buying an additional 119,572 shares during the period. Disciplined Growth Investors Inc. MN raised its position in Semtech by 4.6% during the 3rd 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 during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Semtech in the 3rd quarter worth $763,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Semtech in the third quarter valued at about $10,556,000.

Insiders Place Their Bets

In other Semtech news, SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now directly owns 6,317 shares in the company, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 1,359 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 4,164 shares in the company, valued at $271,284.60. This trade represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,419 shares of company stock valued at $676,955. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SMTC. Roth Mkm raised their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. B. Riley raised their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC upped their price objective on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Benchmark raised their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Susquehanna upped their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.70.

Semtech Trading Up 3.8 %

Shares of NASDAQ SMTC opened at $67.60 on Thursday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of -5.18 and a beta of 1.65. The company’s 50-day moving average price is $58.70 and its 200 day moving average price is $45.29. Semtech Co. has a 52 week low of $18.16 and a 52 week high of $70.27.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period last year, the company posted $0.02 EPS. The company’s revenue was up 17.9% on a year-over-year basis. As a group, research analysts expect that Semtech Co. will post -0.01 earnings per share for the current year.

Semtech 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.