Pacer Advisors Inc. Acquires 598 Shares of Semtech Co. (NASDAQ:SMTC)

Pacer Advisors Inc. increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 51.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,768 shares of the semiconductor company’s stock after purchasing an additional 598 shares during the period. Pacer Advisors Inc.’s holdings in Semtech were worth $109,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Huntington National Bank grew its position in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the period. NBC Securities Inc. boosted its stake in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,652 shares during the period. GAMMA Investing LLC raised its holdings in shares of Semtech by 76.0% during the third quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 1,185 shares during the period. Finally, Van ECK Associates Corp bought a new position in shares of Semtech during the 3rd quarter worth about $125,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SMTC shares. B. Riley upped their price target on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 price target for the company. Susquehanna upped their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Finally, Benchmark lifted their price objective on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.09.

Semtech Trading Up 4.3 %

Shares of Semtech stock opened at $66.22 on Wednesday. The business’s fifty day simple moving average is $66.07 and its 200 day simple moving average is $50.15. Semtech Co. has a 12 month low of $18.72 and a 12 month high of $79.52. The firm has a market capitalization of $5.01 billion, a P/E ratio of -5.07 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping 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. During the same period last year, the firm posted $0.02 earnings per share. Semtech’s quarterly revenue was up 17.9% compared to the same quarter last year.

Insider Transactions at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now owns 76,417 shares in the company, valued at $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the company’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 sale, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,747 shares of company stock worth $1,095,061 in the last quarter. Insiders own 0.60% of the company’s stock.

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.