Semtech Co. (NASDAQ:SMTC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in Semtech Co. (NASDAQ:SMTC) by 10.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,077,768 shares of the semiconductor company’s stock after selling 124,207 shares during the period. Fisher Asset Management LLC owned 1.68% of Semtech worth $23,614,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Swiss National Bank grew its stake in Semtech by 1.2% in the third quarter. Swiss National Bank now owns 140,600 shares of the semiconductor company’s stock worth $3,620,000 after purchasing an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Semtech by 67.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 1,871 shares during the period. Barclays PLC boosted its stake in Semtech by 4.9% in the third quarter. Barclays PLC now owns 43,595 shares of the semiconductor company’s stock valued at $1,123,000 after acquiring an additional 2,039 shares during the period. ORG Partners LLC boosted its stake in Semtech by 16.3% in the fourth quarter. ORG Partners LLC now owns 17,409 shares of the semiconductor company’s stock valued at $381,000 after acquiring an additional 2,440 shares during the period. Finally, Cape Investment Advisory Inc. acquired a new position in Semtech in the fourth quarter valued at approximately $63,000.

Analysts Set New Price Targets

SMTC has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $60.00 target price (up from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. Robert W. Baird lifted their target price on Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. B. Riley lifted their target price on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Needham & Company LLC lifted their price target on Semtech from $38.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Northland Securities lifted their price target on Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.90.

Insider Buying and Selling

In related news, CFO Mark Lin purchased 1,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $33,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $29.50 on Wednesday. Semtech Co. has a 12 month low of $13.13 and a 12 month high of $46.86. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -1.74 and a beta of 1.63. The stock’s 50 day moving average price is $36.38 and its 200 day moving average price is $27.00. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.40 and a quick ratio of 1.74.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The firm had revenue of $192.95 million for the quarter, compared to the consensus estimate of $191.24 million. Equities research analysts anticipate that Semtech Co. will post -0.03 earnings per share for the current fiscal year.

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.