Semtech Co. (NASDAQ:SMTC) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its position in shares of Semtech Co. (NASDAQ:SMTC) by 26.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,855 shares of the semiconductor company’s stock after selling 2,863 shares during the period. Janney Montgomery Scott LLC’s holdings in Semtech were worth $486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SMTC. Huntington National Bank increased its position in Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the period. GAMMA Investing LLC lifted its stake in Semtech by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 421 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in Semtech by 3.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after buying an additional 447 shares in the last quarter. Creative Planning lifted its stake in Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in Semtech by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock valued at $515,000 after buying an additional 673 shares in the last quarter.

Semtech Trading Down 9.9 %

NASDAQ:SMTC opened at $54.51 on Monday. The business’s fifty day moving average price is $65.85 and its 200 day moving average price is $50.74. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of -4.18, a PEG ratio of 2.98 and a beta of 1.64. Semtech Co. has a 1-year low of $19.12 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis.

Analysts Set New Price Targets

A number of brokerages have weighed in on SMTC. Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group began coverage on Semtech in a research note on Friday, January 17th. They set a “buy” rating and a $85.00 price target on the stock. Susquehanna increased their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Needham & Company LLC increased their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Stifel Nicolaus increased their price target on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 2,990 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total transaction of $177,755.50. Following the completion of the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at approximately $323,764.70. This represents a 35.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock valued at $1,095,061 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

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.