KBC Group NV Has $216,000 Position in Semtech Co. (NASDAQ:SMTC)

KBC Group NV lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 113.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,498 shares of the semiconductor company’s stock after buying an additional 1,856 shares during the period. KBC Group NV’s holdings in Semtech were worth $216,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. 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 valued at $27,000 after acquiring an additional 302 shares during the period. NBC Securities Inc. raised its position in shares of Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 739 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,652 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Semtech by 76.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,185 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Semtech in the 3rd quarter valued at about $125,000.

Semtech Price Performance

NASDAQ SMTC opened at $66.22 on Wednesday. Semtech Co. has a fifty-two week low of $18.72 and a fifty-two week high of $79.52. The stock has a market capitalization of $5.01 billion, a PE ratio of -5.07 and a beta of 1.64. The business has a fifty day moving average price of $66.07 and a two-hundred day moving average price of $50.15.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same period in the previous year, the firm posted $0.02 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year.

Insider Activity

In other Semtech news, 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 transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Imran Sherazi sold 1,338 shares of Semtech 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 transaction, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. This trade represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,747 shares of company stock worth $1,095,061. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SMTC. Benchmark boosted their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Northland Securities boosted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Needham & Company LLC increased their price objective on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, B. Riley upped their price target 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $71.09.

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.