Semtech Co. (NASDAQ:SMTC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Semtech Co. (NASDAQ:SMTC) by 91.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,152 shares of the semiconductor company’s stock after selling 388,969 shares during the period. Assenagon Asset Management S.A.’s holdings in Semtech were worth $2,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SMTC. Huntington National Bank raised its stake in Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. 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 worth $196,000 after purchasing an additional 421 shares during the last quarter. Hanseatic Management Services Inc. lifted its holdings in shares of Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares during the period. Creative Planning boosted its position in Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Semtech by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after buying an additional 673 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on SMTC. B. Riley lifted their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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. Stifel Nicolaus increased their price target on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Susquehanna boosted their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Finally, Northland Securities upped their target price on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average target price of $71.09.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the chief operating officer now owns 76,417 shares in the company, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the company’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 sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,757 shares of company stock valued at $917,305 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Semtech Trading Down 1.5 %

Shares of SMTC opened at $76.00 on Thursday. The firm has a market cap of $5.75 billion, a P/E ratio of -5.82 and a beta of 1.65. Semtech Co. has a 12 month low of $18.72 and a 12 month high of $79.52. The stock’s 50 day moving average is $63.27 and its two-hundred day moving average is $48.08.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS.

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.