Semtech Co. (NASDAQ:SMTC) Stock Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 643.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,316 shares of the semiconductor company’s stock after buying an additional 49,609 shares during the period. SG Americas Securities LLC owned about 0.08% of Semtech worth $3,545,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SMTC. Huntington National Bank grew its holdings in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Semtech in the 2nd quarter worth about $60,000. NBC Securities Inc. raised its holdings in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares during the period. Quarry LP acquired a new stake in Semtech during the 2nd quarter worth about $63,000. Finally, International Assets Investment Management LLC lifted its stake in Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 1,652 shares in the last quarter.

Semtech Stock Down 3.8 %

NASDAQ SMTC opened at $73.02 on Friday. The company has a 50 day moving average price of $64.42 and a two-hundred day moving average price of $48.65. Semtech Co. has a 12-month low of $18.72 and a 12-month high of $79.52. The stock has a market capitalization of $5.53 billion, a PE ratio of -5.60 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) 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 firm had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the prior year, the company posted $0.02 earnings per share. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SMTC. Piper Sandler restated an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Benchmark raised their target price on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. UBS Group initiated coverage on Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 price target on the stock. Craig Hallum raised their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus upped their target price on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.09.

Insider Activity

In related news, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. This trade represents a 63.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,757 shares of company stock valued at $917,305. Insiders own 0.60% of the company’s stock.

Semtech Company 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.