Semtech Co. (NASDAQ:SMTC) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,363 shares of the semiconductor company’s stock after purchasing an additional 11,878 shares during the quarter. Rhumbline Advisers owned about 0.27% of Semtech worth $12,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Huntington National Bank boosted its stake in Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Semtech by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 598 shares in the last quarter. Van ECK Associates Corp bought a new position in Semtech during the 3rd quarter valued at $125,000. Finally, GAMMA Investing LLC boosted its stake in Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 421 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMTC. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. B. Riley raised their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Robert W. Baird decreased their target price 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, Susquehanna raised their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.91.

Semtech Price Performance

NASDAQ SMTC opened at $37.10 on Monday. The firm has a market cap of $2.81 billion, a P/E ratio of -2.84, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64. The stock’s 50-day moving average is $60.30 and its two-hundred day moving average is $51.27. Semtech Co. has a fifty-two week low of $19.76 and a fifty-two week high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts expect that Semtech Co. will post -0.02 EPS for the current year.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 3,531 shares in the company, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by corporate insiders.

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.