Semtech Co. (NASDAQ:SMTC) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Semtech Co. (NASDAQ:SMTC) by 20.0% during the 4th quarter, HoldingsChannel reports. The fund owned 4,609 shares of the semiconductor company’s stock after acquiring an additional 768 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Semtech were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of 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 during the period. Smartleaf Asset Management LLC lifted its holdings in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares during the last quarter. Pacer Advisors Inc. grew its position in Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 598 shares during the period. Mutual of America Capital Management LLC increased its stake in Semtech by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 673 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Semtech by 12.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 870 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SMTC shares. UBS Group lowered their price target on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Semtech in a research note on Friday, March 14th. Craig Hallum dropped their price target on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Robert W. Baird lowered their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Benchmark cut their target price on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $61.55.

Semtech Stock Down 2.5 %

NASDAQ:SMTC opened at $39.62 on Friday. Semtech Co. has a 52 week low of $22.13 and a 52 week high of $79.52. The company has a fifty day simple moving average of $49.04 and a two-hundred day simple moving average of $51.05. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -3.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last released its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, analysts expect that Semtech Co. will post -0.02 EPS for the current year.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction that occurred 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 transaction, the chief financial officer now owns 4,164 shares in the company, valued at $271,284.60. The trade was a 24.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction that occurred 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 owns 14 shares of the company’s stock, valued at $1,050. This trade represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,577 shares of company stock valued at $884,310. 0.60% of the stock is currently owned by corporate insiders.

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.