Nisa Investment Advisors LLC Purchases 870 Shares of Semtech Co. (NASDAQ:SMTC)

Nisa Investment Advisors LLC lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,788 shares of the semiconductor company’s stock after purchasing an additional 870 shares during the period. Nisa Investment Advisors LLC’s holdings in Semtech were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank grew 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 purchasing an additional 302 shares in the last quarter. NBC Securities Inc. raised its stake in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares in the last quarter. Quarry LP purchased a new position in Semtech during the 2nd quarter valued at about $63,000. Finally, GAMMA Investing LLC increased its position in Semtech by 76.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 1,185 shares in the last quarter.

Semtech Stock Performance

Semtech stock opened at $61.11 on Wednesday. Semtech Co. has a fifty-two week low of $18.72 and a fifty-two week high of $79.52. The company has a market capitalization of $4.62 billion, a PE ratio of -4.68 and a beta of 1.65. The company has a 50 day moving average price of $64.93 and a 200-day moving average price of $49.06.

Semtech (NASDAQ:SMTC) last announced 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 business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS.

Insider Buying and Selling at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction that occurred on 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 sale, 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. Insiders sold a total of 13,757 shares of company stock worth $917,305 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SMTC. Northland Securities boosted their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Needham & Company LLC raised their target price on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Roth Mkm lifted 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. B. Riley raised their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 price objective (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.09.

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.