5,183 Shares in Semtech Co. (NASDAQ:SMTC) Bought by Stifel Financial Corp

Stifel Financial Corp bought a new stake in Semtech Co. (NASDAQ:SMTC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,183 shares of the semiconductor company’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its position in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares during the period. Driehaus Capital Management LLC bought a new stake in Semtech during the second quarter valued at about $43,395,000. Charles Schwab Investment Management Inc. increased its position in Semtech by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock worth $48,303,000 after buying an additional 100,410 shares in the last quarter. Finally, Clearline Capital LP raised its stake in shares of Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after buying an additional 529,194 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SMTC shares. Roth Mkm boosted their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. B. Riley upped their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus raised their price objective on shares of Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Finally, Susquehanna raised their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $68.70.

Insider Transactions at Semtech

In other news, 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 transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Semtech Trading Down 3.6 %

Shares of Semtech stock opened at $63.33 on Monday. The firm has a market cap of $4.79 billion, a PE ratio of -4.85 and a beta of 1.65. The stock has a 50 day moving average of $55.66 and a 200 day moving average of $43.37. Semtech Co. has a 12 month low of $18.16 and a 12 month high of $70.27.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the prior year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities research analysts forecast that Semtech Co. will post -0.01 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.