Asset Management One Co. Ltd. Has $150,000 Position in Semtech Co. (NASDAQ:SMTC)

Asset Management One Co. Ltd. lowered its position in Semtech Co. (NASDAQ:SMTC) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,364 shares of the semiconductor company’s stock after selling 621 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Semtech were worth $150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Semtech by 332.1% in the fourth quarter. Van ECK Associates Corp now owns 12,103 shares of the semiconductor company’s stock valued at $749,000 after buying an additional 9,302 shares during the period. Legato Capital Management LLC increased its stake in shares of Semtech by 40.0% in the fourth quarter. Legato Capital Management LLC now owns 18,260 shares of the semiconductor company’s stock valued at $1,129,000 after buying an additional 5,215 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Semtech by 12.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the semiconductor company’s stock valued at $2,523,000 after buying an additional 4,500 shares during the period. Regents Gate Capital LLP acquired a new position in shares of Semtech in the fourth quarter valued at approximately $2,285,000. Finally, Stephens Inc. AR acquired a new position in shares of Semtech in the fourth quarter valued at approximately $889,000.

Semtech Stock Down 4.2 %

Shares of SMTC stock opened at $37.10 on Friday. Semtech Co. has a 52 week low of $19.76 and a 52 week high of $79.52. The firm has a 50 day moving average of $60.30 and a 200-day moving average of $50.95. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -2.84, a price-to-earnings-growth ratio of 2.07 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis. Analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In other Semtech news, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 2,990 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total value of $177,755.50. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,747 shares of company stock worth $1,095,061 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 target price for the company. Benchmark increased their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Roth Mkm increased their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Northland Securities increased their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Three investment 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $67.91.

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.