M&T Bank Corp Invests $331,000 in Semtech Co. (NASDAQ:SMTC)

M&T Bank Corp bought a new stake in shares of Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,353 shares of the semiconductor company’s stock, valued at approximately $331,000.

Several other large investors have also added to or reduced their stakes in SMTC. Whale Rock Capital Management LLC acquired a new position in Semtech in the third quarter valued at approximately $32,126,000. Victory Capital Management Inc. lifted its position in shares of Semtech by 130.7% during the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after acquiring an additional 466,868 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Semtech by 198.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock valued at $18,940,000 after acquiring an additional 275,717 shares during the period. WCM Investment Management LLC bought a new position in Semtech during the fourth quarter worth $15,180,000. Finally, Wellington Management Group LLP acquired a new stake in Semtech in the third quarter worth $10,556,000.

Insider Buying and Selling at Semtech

In other Semtech news, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the sale, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 6,114 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. This represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock worth $1,472,726 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Semtech Stock Performance

Semtech stock opened at $39.60 on Friday. Semtech Co. has a fifty-two week low of $21.56 and a fifty-two week high of $79.52. The firm’s 50-day simple moving average is $51.73 and its 200 day simple moving average is $51.13. The stock has a market cap of $3.00 billion, a PE ratio of -3.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last announced its earnings results 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 business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. Semtech’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMTC. Stifel Nicolaus dropped their price objective on shares of Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday. Roth Mkm upped their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Craig Hallum reduced their price objective on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Friday. UBS Group lowered their target price on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Benchmark reduced their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price 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.