Nisa Investment Advisors LLC Sells 9,676 Shares of Semtech Co. (NASDAQ:SMTC)

Nisa Investment Advisors LLC trimmed its stake in shares of Semtech Co. (NASDAQ:SMTC) by 59.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,599 shares of the semiconductor company’s stock after selling 9,676 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Semtech were worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SMTC. BlackRock Inc. raised its position in shares of Semtech by 29.7% during the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after acquiring an additional 2,769,314 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Semtech by 58.9% during the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after acquiring an additional 1,466,665 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Semtech by 1,084.1% during the second quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock worth $25,445,000 after acquiring an additional 915,000 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Semtech by 49.6% during the first quarter. Macquarie Group Ltd. now owns 2,180,522 shares of the semiconductor company’s stock worth $52,638,000 after acquiring an additional 722,908 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Semtech by 59.3% during the fourth quarter. Morgan Stanley now owns 1,924,955 shares of the semiconductor company’s stock worth $55,227,000 after acquiring an additional 716,294 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMTC. Northland Securities lifted their target price on Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a report on Monday, April 1st. Stifel Nicolaus lifted their target price on Semtech from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Needham & Company LLC lifted their target price on Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Craig Hallum lifted their target price on Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.85.

Semtech Trading Down 3.1 %

NASDAQ SMTC opened at $31.05 on Friday. Semtech Co. has a 52 week low of $13.13 and a 52 week high of $35.80. The business has a 50 day moving average price of $25.28 and a 200-day moving average price of $21.24. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.79 and a current ratio of 2.46.

Insider Activity

In other news, CFO Mark Lin acquired 1,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.