D.A. Davidson & CO. Invests $237,000 in Semtech Co. (NASDAQ:SMTC)

D.A. Davidson & CO. purchased a new stake in Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,838 shares of the semiconductor company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whale Rock Capital Management LLC acquired a new position in Semtech in the third quarter worth about $32,126,000. Victory Capital Management Inc. increased its position in shares of Semtech by 130.7% during the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after purchasing an additional 466,868 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Semtech by 198.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after purchasing an additional 275,717 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Semtech during the fourth quarter valued at about $15,180,000. Finally, Wellington Management Group LLP acquired a new stake in Semtech during the 3rd quarter worth about $10,556,000.

Analyst Ratings Changes

A number of research firms have recently commented on SMTC. Needham & Company LLC dropped their price target on shares of Semtech from $74.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Susquehanna lifted their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. B. Riley raised their target price 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. Benchmark boosted their price objective on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, UBS Group initiated coverage on Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.91.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 2,990 shares of Semtech stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the transaction, the chief financial officer now owns 5,446 shares in the company, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were 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 of the company’s stock, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,747 shares of company stock worth $1,095,061. Company insiders own 0.60% of the company’s stock.

Semtech Price Performance

NASDAQ:SMTC opened at $35.06 on Friday. Semtech Co. has a one year low of $19.83 and a one year high of $79.52. The firm has a market capitalization of $2.65 billion, a P/E ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.64. The company’s 50-day simple moving average is $58.04 and its 200 day simple moving average is $51.17.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share 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 analysts’ expectations of $232.89 million. During the same period last year, the firm posted $0.02 EPS. Semtech’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts expect that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

About Semtech

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.