Semtech Co. (NASDAQ:SMTC) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its position in shares of Semtech Co. (NASDAQ:SMTC) by 23.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 194,544 shares of the semiconductor company’s stock after buying an additional 36,558 shares during the period. Sei Investments Co.’s holdings in Semtech were worth $12,033,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in Semtech during the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC raised its position in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 505 shares in the last quarter. AlphaQuest LLC lifted its holdings in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 772 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Semtech during the 4th quarter valued at about $91,000. Finally, Pacer Advisors Inc. grew its stake in shares of Semtech by 51.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares during the last quarter.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Lin sold 2,907 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the transaction, the chief financial officer now owns 13,481 shares in the company, valued at $508,368.51. This represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,484 shares of company stock valued at $993,933. 0.60% of the stock is owned by insiders.

Semtech Price Performance

NASDAQ:SMTC opened at $35.05 on Friday. The stock has a market cap of $2.65 billion, a PE ratio of -2.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech Co. has a fifty-two week low of $27.25 and a fifty-two week high of $79.52. The stock’s 50-day moving average is $45.94 and its two-hundred day moving average is $51.03.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $249.40 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMTC has been the subject of several recent research reports. UBS Group cut their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Piper Sandler reiterated an “overweight” rating and set a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Northland Securities lifted their target price on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Robert W. Baird decreased their price target on 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 price objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average target price of $61.55.

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.