Harbor Capital Advisors Inc. Has $5.72 Million Stake in Semtech Co. (NASDAQ:SMTC)

Harbor Capital Advisors Inc. lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 117.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,395 shares of the semiconductor company’s stock after purchasing an additional 49,835 shares during the quarter. Harbor Capital Advisors Inc. owned 0.12% of Semtech worth $5,715,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Disciplined Growth Investors Inc. MN grew its holdings in shares of Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after buying an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Semtech during the 2nd quarter worth approximately $43,395,000. Millennium Management LLC raised its holdings in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Semtech in the third quarter worth $32,126,000. Finally, Clearline Capital LP boosted its holdings in Semtech by 143.1% during the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after purchasing an additional 529,194 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. B. Riley lifted 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. Stifel Nicolaus lifted their target price on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Craig Hallum boosted their price target on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Roth Mkm upped their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $69.70.

Insider Transactions at Semtech

In other news, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the sale, the senior vice president now owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This trade represents a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,419 shares of company stock worth $676,955. Company insiders own 0.60% of the company’s stock.

Semtech Price Performance

Shares of Semtech stock opened at $66.15 on Friday. Semtech Co. has a 1 year low of $18.16 and a 1 year high of $70.27. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -5.07 and a beta of 1.65. The business has a fifty day simple moving average of $59.17 and a two-hundred day simple moving average of $45.44.

Semtech (NASDAQ:SMTC) last announced 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 during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. Semtech’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, equities analysts anticipate that Semtech Co. will post -0.01 earnings per share for the current fiscal year.

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.