By otakuyassine3@gmail.com 
M&T Bank Corp bought a new position in shares of Semtech Co. (NASDAQ:SMTC – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,353 shares of the semiconductor company’s stock, valued at approximately $331,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMTC. Disciplined Growth Investors Inc. MN raised its holdings in shares of Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares during the period. Geode Capital Management LLC increased its position in Semtech by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after buying an additional 119,572 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Semtech by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company’s stock worth $65,677,000 after buying an additional 3,991 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Semtech by 130.7% in the third quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after buying an additional 466,868 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in shares of Semtech during the 3rd quarter worth approximately $32,126,000.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SMTC. B. Riley increased their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Craig Hallum reduced their target price on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird decreased their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Northland Securities boosted their price objective on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.55.
Read Our Latest Analysis on Semtech
Insider Activity at Semtech
In related news, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. This trade represents a 63.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares in the company, valued at $1,050. This trade represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock worth $1,472,726 in the last quarter. 0.60% of the stock is owned by insiders.
Semtech Stock Up 21.1 %
NASDAQ:SMTC opened at $39.60 on Friday. The firm has a market capitalization of $3.00 billion, a PE ratio of -3.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech Co. has a twelve month low of $21.56 and a twelve month high of $79.52. The stock’s 50-day simple moving average is $51.73 and its 200 day simple moving average is $51.13.
Semtech (NASDAQ:SMTC – Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (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 quarter last year, the company posted ($0.06) earnings per share. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. On average, analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal year.
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.
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