Charles Schwab Investment Management Inc. Boosts Stake in Semtech Co. (NASDAQ:SMTC)

Charles Schwab Investment Management Inc. raised its holdings in Semtech Co. (NASDAQ:SMTC) by 0.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,061,871 shares of the semiconductor company’s stock after acquiring an additional 3,991 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Semtech were worth $65,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Disciplined Growth Investors Inc. MN increased its holdings in shares of 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. Geode Capital Management LLC increased its holdings 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 purchasing an additional 119,572 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Semtech by 130.7% in the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after purchasing an additional 466,868 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech during the third quarter worth about $32,126,000. Finally, Fred Alger Management LLC increased its position 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 acquiring an additional 191,347 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SMTC. Northland Securities lifted their target price on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Robert W. Baird cut their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Stifel Nicolaus dropped their target price on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Roth Mkm boosted their target price on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.91.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 1,359 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were 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 approximately $271,284.60. This represents a 24.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the sale, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,637 shares of company stock worth $1,472,726. Corporate insiders own 0.60% of the company’s stock.

Semtech Stock Performance

NASDAQ SMTC opened at $32.20 on Wednesday. Semtech Co. has a twelve month low of $21.56 and a twelve month high of $79.52. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -2.47, a PEG ratio of 2.12 and a beta of 1.69. The firm’s 50 day moving average price is $53.40 and its two-hundred day moving average price is $51.37.

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.