Asset Management One Co. Ltd. Sells 621 Shares of Semtech Co. (NASDAQ:SMTC)

Asset Management One Co. Ltd. cut its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 20.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,364 shares of the semiconductor company’s stock after selling 621 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Semtech were worth $150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Huntington National Bank increased its position in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Semtech by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 598 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Semtech during the 3rd quarter valued at $125,000. Finally, CWM LLC increased its position in shares of Semtech by 33.9% during the 3rd quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 818 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Susquehanna raised their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Benchmark lifted their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. B. Riley lifted their price objective on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Robert W. Baird decreased their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Northland Securities lifted their price objective on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.91.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 1,359 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $65.15, for a total value of $88,538.85. Following the completion of the sale, the chief financial officer now owns 4,164 shares of the company’s stock, valued at $271,284.60. This represents a 24.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,747 shares of company stock worth $1,095,061. Insiders own 0.60% of the company’s stock.

Semtech Stock Down 4.2 %

SMTC stock opened at $37.10 on Friday. The firm has a market capitalization of $2.81 billion, a PE ratio of -2.84, a PEG ratio of 2.07 and a beta of 1.64. Semtech Co. has a twelve month low of $19.76 and a twelve month high of $79.52. The stock has a 50-day simple moving average of $60.30 and a two-hundred day simple moving average of $50.95.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data 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 company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. On average, equities research analysts anticipate that Semtech Co. will post -0.02 EPS 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.