Yousif Capital Management LLC Grows Stock Position in Semtech Co. (NASDAQ:SMTC)

Yousif Capital Management LLC lifted its stake in Semtech Co. (NASDAQ:SMTC) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,746 shares of the semiconductor company’s stock after purchasing an additional 3,189 shares during the period. Yousif Capital Management LLC’s holdings in Semtech were worth $1,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. Huntington National Bank raised its stake in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares in the last quarter. GAMMA Investing LLC increased its position in Semtech by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after acquiring an additional 421 shares during the period. Hanseatic Management Services Inc. boosted its holdings in Semtech by 3.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after purchasing an additional 447 shares in the last quarter. Creative Planning boosted its holdings in Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after purchasing an additional 588 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Semtech by 51.1% in the 4th 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.

Insiders Place Their Bets

In other news, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction that occurred 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 owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Lin sold 2,990 shares of Semtech stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total value of $177,755.50. Following the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,747 shares of company stock valued at $1,095,061 over the last quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SMTC shares. Needham & Company LLC cut their price objective on Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a research report on Monday. Craig Hallum upped their price objective on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective for the company. Benchmark upped their price objective on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Roth Mkm upped their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.91.

Semtech Stock Performance

NASDAQ:SMTC opened at $38.18 on Wednesday. The stock has a 50-day simple moving average of $64.77 and a 200 day simple moving average of $50.85. Semtech Co. has a one year low of $19.12 and a one year high of $79.52. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -2.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64.

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

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.