Semtech Co. (NASDAQ:SMTC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,988 shares of the semiconductor company’s stock after selling 2,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Semtech were worth $394,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SMTC. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Semtech by 30.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,772 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 3,437 shares in the last quarter. Whittier Trust Co. acquired a new stake in Semtech in the third quarter valued at approximately $207,000. Lisanti Capital Growth LLC acquired a new stake in Semtech in the third quarter valued at approximately $1,808,000. Barclays PLC raised its holdings in Semtech by 4.9% in the third quarter. Barclays PLC now owns 43,595 shares of the semiconductor company’s stock valued at $1,123,000 after acquiring an additional 2,039 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Semtech by 76.7% in the third quarter. New York State Common Retirement Fund now owns 468,166 shares of the semiconductor company’s stock valued at $12,055,000 after acquiring an additional 203,182 shares in the last quarter.

Insider Transactions at Semtech

In other news, CFO Mark Lin acquired 1,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Semtech Stock Performance

Shares of SMTC opened at $37.64 on Thursday. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. The firm has a market cap of $2.43 billion, a PE ratio of -2.21 and a beta of 1.85. The company’s 50 day simple moving average is $27.35 and its 200-day simple moving average is $21.78. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $39.09.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The business had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. Semtech had a negative return on equity of 9.41% and a negative net margin of 125.70%. As a group, equities analysts predict that Semtech Co. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Northland Securities raised their target price on shares of Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a report on Monday, April 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 target price (up previously from $30.00) on shares of Semtech in a report on Monday, April 1st. Stifel Nicolaus raised their target price on shares of Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Susquehanna raised their target price on shares of Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a report on Monday, April 1st. Finally, Needham & Company LLC increased their price target on shares of Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.85.

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.