Commonwealth Equity Services LLC Has $524,000 Position in Semtech Co. (NASDAQ:SMTC)

Commonwealth Equity Services LLC raised its position in Semtech Co. (NASDAQ:SMTC) by 42.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,468 shares of the semiconductor company’s stock after buying an additional 2,533 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Semtech were worth $524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in shares of Semtech in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its holdings in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 505 shares during the period. AlphaQuest LLC grew its position in shares of Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares during the period. Finally, GAMMA Investing LLC raised its position 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 buying an additional 421 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 10,890 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the completion of the transaction, the chief financial officer now owns 11,625 shares of the company’s stock, valued at approximately $403,155. This trade represents a 48.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the sale, the senior vice president now directly owns 14 shares in the company, valued at approximately $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $905,394 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Semtech Trading Down 5.7 %

Shares of Semtech stock opened at $28.01 on Friday. The firm’s 50 day moving average is $41.67 and its 200 day moving average is $50.68. The firm has a market capitalization of $2.42 billion, a PE ratio of -2.15, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech Co. has a 1 year low of $25.17 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC) last posted its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same period in the previous year, the firm posted ($0.06) EPS. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, research analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SMTC. Robert W. Baird reduced their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Stifel Nicolaus dropped their price target on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Craig Hallum reduced their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Northland Securities raised their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.55.

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.