Principal Securities Inc. Has $404,000 Holdings in Semtech Co. (NASDAQ:SMTC)

Principal Securities Inc. cut its position in shares of Semtech Co. (NASDAQ:SMTC) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,530 shares of the semiconductor company’s stock after selling 2,407 shares during the quarter. Principal Securities Inc.’s holdings in Semtech were worth $404,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Huntington National Bank increased its position in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the period. GAMMA Investing LLC boosted its stake in Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 421 shares in the last quarter. Hanseatic Management Services Inc. boosted its stake in Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after acquiring an additional 447 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 598 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Semtech by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 673 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Benchmark increased their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna increased their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Craig Hallum increased their target price on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Northland Securities raised their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, UBS Group assumed coverage on shares of Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective on the stock. 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 has a consensus rating of “Moderate Buy” and an average price target of $67.91.

Semtech Stock Performance

Semtech stock opened at $37.10 on Friday. Semtech Co. has a fifty-two week low of $19.76 and a fifty-two week high of $79.52. The stock has a market cap of $2.81 billion, a PE ratio of -2.84, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64. The firm’s 50-day simple moving average is $60.30 and its 200 day simple moving average is $51.10.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter last year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 2,990 shares of Semtech stock in a transaction dated 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 owns 5,446 shares of the company’s stock, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at approximately $5,349,190. This represents 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. 0.60% of the stock is owned by insiders.

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.