Oppenheimer & Co. Inc. Invests $255,000 in Semtech Co. (NASDAQ:SMTC)

Oppenheimer & Co. Inc. purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,119 shares of the semiconductor company’s stock, valued at approximately $255,000.

A number of other large investors also recently modified their holdings of SMTC. Huntington National Bank lifted its holdings in shares of 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 buying an additional 302 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 598 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Semtech in the third quarter valued at $125,000. GAMMA Investing LLC raised its stake in shares of Semtech by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 421 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Semtech in the third quarter valued at $201,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SMTC. Northland Securities upped their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. UBS Group began coverage on Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 target price for the company. Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Susquehanna upped their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Finally, Craig Hallum upped their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.91.

Insider Transactions at Semtech

In related news, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. This trade represents a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the transaction, the chief financial officer now owns 3,531 shares in the company, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,637 shares of company stock worth $1,472,726. Insiders own 0.60% of the company’s stock.

Semtech Stock Performance

Shares of SMTC stock opened at $33.50 on Friday. The stock’s fifty day moving average is $54.60 and its 200-day moving average is $51.32. The stock has a market capitalization of $2.54 billion, a PE ratio of -2.57, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a 52 week low of $21.56 and a 52 week high of $79.52.

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.