GAMMA Investing LLC Grows Holdings in Semtech Co. (NASDAQ:SMTC)

GAMMA Investing LLC lifted its position in shares of Semtech Co. (NASDAQ:SMTC) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,166 shares of the semiconductor company’s stock after acquiring an additional 421 shares during the quarter. GAMMA Investing LLC’s holdings in Semtech were worth $196,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank boosted its position in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Semtech during the 2nd quarter worth approximately $60,000. NBC Securities Inc. lifted its position in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares in the last quarter. Quarry LP acquired a new stake in Semtech in the 2nd quarter valued at $63,000. Finally, International Assets Investment Management LLC increased its holdings in Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares in the last quarter.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction dated 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 approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares in the company, valued at approximately $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,419 shares of company stock valued at $676,955 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Semtech Stock Up 3.8 %

NASDAQ:SMTC opened at $67.60 on Thursday. Semtech Co. has a 52 week low of $18.16 and a 52 week high of $70.27. The stock’s fifty day moving average is $58.70 and its two-hundred day moving average is $45.29. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -5.18 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. On average, sell-side analysts expect that Semtech Co. will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SMTC. Piper Sandler reiterated an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Susquehanna lifted their price objective on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. B. Riley increased their target price on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Northland Securities raised their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $69.70.

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.