Semtech Co. (NASDAQ:SMTC) Position Raised by Yousif Capital Management LLC

Yousif Capital Management LLC boosted its holdings in Semtech Co. (NASDAQ:SMTC) by 11.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,746 shares of the semiconductor company’s stock after buying an additional 3,189 shares during the quarter. Yousif Capital Management LLC’s holdings in Semtech were worth $1,963,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its position in Semtech by 105.2% in 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 last quarter. NBC Securities Inc. grew its position in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares during the last quarter. International Assets Investment Management LLC grew its position in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,652 shares during the last quarter. Pacer Advisors Inc. grew its position in Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after buying an additional 598 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Semtech in the third quarter worth approximately $125,000.

Semtech Stock Up 1.5 %

NASDAQ SMTC opened at $38.18 on Wednesday. The stock has a market cap of $2.89 billion, a P/E ratio of -2.93, a PEG ratio of 2.98 and a beta of 1.64. The company’s 50-day simple moving average is $64.77 and its 200 day simple moving average is $50.85. Semtech Co. has a twelve month low of $19.12 and a twelve month high of $79.52.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS.

Analysts Set New Price Targets

Several equities analysts have weighed in on SMTC shares. B. Riley lifted their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Benchmark lifted their price objective on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reiterated an “overweight” rating and set a $55.00 price objective (down from $75.00) on shares of Semtech in a research report on Monday. Craig Hallum lifted their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Northland Securities boosted their price target on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $67.91.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 2,990 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total transaction of $177,755.50. Following the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at approximately $323,764.70. This represents a 35.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the sale, the senior vice president now directly owns 6,317 shares in the company, valued at $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,747 shares of company stock valued at $1,095,061 over the last quarter. 0.60% of the stock is owned by company 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.