Handelsbanken Fonder AB Purchases 3,700 Shares of Semtech Co. (NASDAQ:SMTC)

Handelsbanken Fonder AB raised its position in Semtech Co. (NASDAQ:SMTC) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,688 shares of the semiconductor company’s stock after purchasing an additional 3,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Semtech were worth $1,341,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SMTC. Disciplined Growth Investors Inc. MN increased its stake in shares of Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after buying an additional 114,999 shares during the period. Geode Capital Management LLC increased its position in Semtech by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares during the period. Charles Schwab Investment Management Inc. increased its position in Semtech by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after acquiring an additional 100,410 shares during the period. Victory Capital Management Inc. raised its stake in shares of Semtech by 130.7% during the third quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after acquiring an additional 466,868 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new position in shares of Semtech during the third quarter worth $32,126,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Benchmark increased their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Northland Securities increased their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Susquehanna lifted their price objective on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Stifel Nicolaus decreased their target price on shares of Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Craig Hallum raised their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average price target of $67.91.

Semtech Trading Up 5.6 %

SMTC opened at $38.88 on Thursday. The company has a fifty day moving average price of $58.61 and a two-hundred day moving average price of $51.28. Semtech Co. has a 1-year low of $19.83 and a 1-year high of $79.52. The company has a market cap of $2.94 billion, a P/E ratio of -2.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. On average, research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the chief operating officer now owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. This represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,747 shares of company stock valued at $1,095,061. Company insiders own 0.60% of the company’s stock.

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.