Harbor Capital Advisors Inc. Has $1.43 Million Stock Holdings in Semtech Corporation $SMTC

Harbor Capital Advisors Inc. decreased its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 54.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,402 shares of the semiconductor company’s stock after selling 22,783 shares during the period. Harbor Capital Advisors Inc.’s holdings in Semtech were worth $1,430,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Think Investments LP acquired a new position in Semtech in the third quarter valued at approximately $58,618,000. Ameriprise Financial Inc. grew its position in shares of Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares during the period. Atreides Management LP acquired a new stake in shares of Semtech during the 2nd quarter worth approximately $29,880,000. Westfield Capital Management Co. LP increased its stake in shares of Semtech by 23.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock valued at $241,528,000 after acquiring an additional 633,113 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Semtech by 36.0% in the 2nd quarter. Hood River Capital Management LLC now owns 2,244,631 shares of the semiconductor company’s stock valued at $101,323,000 after acquiring an additional 594,529 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Semtech from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Stifel Nicolaus lifted their price target on shares of Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Wall Street Zen lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Weiss Ratings cut shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, March 24th. Finally, Oppenheimer raised their target price on Semtech from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.14.

Insider Buying and Selling at Semtech

In related news, EVP Jason Elliot Green sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total value of $612,975.00. Following the sale, the executive vice president owned 8,811 shares in the company, valued at $720,123.03. This represents a 45.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Lin sold 974 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total value of $76,381.08. Following the sale, the chief financial officer directly owned 33,343 shares of the company’s stock, valued at $2,614,758.06. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 57,851 shares of company stock worth $4,744,808. 0.48% of the stock is currently owned by insiders.

Semtech Stock Performance

NASDAQ SMTC opened at $82.65 on Friday. The company has a fifty day simple moving average of $83.87 and a 200 day simple moving average of $75.63. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $96.46. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market cap of $7.68 billion, a P/E ratio of -187.84 and a beta of 2.06.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.