246,022 Shares in Semtech Co. (NASDAQ:SMTC) Acquired by WCM Investment Management LLC

WCM Investment Management LLC purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 246,022 shares of the semiconductor company’s stock, valued at approximately $15,180,000. WCM Investment Management LLC owned about 0.33% of Semtech at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Huntington National Bank lifted its stake in shares of Semtech by 105.2% during the 3rd 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. lifted its position in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of Semtech by 76.0% in the third quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 1,185 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark boosted their price target on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. B. Riley upped 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. Robert W. Baird dropped their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group began coverage on shares of Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Insider Buying and Selling at Semtech

In other news, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares in the company, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was 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 in the company, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,747 shares of company stock worth $1,095,061 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

Semtech Stock Down 9.9 %

Shares of SMTC stock opened at $54.51 on Monday. The business has a fifty day simple moving average of $65.85 and a 200 day simple moving average of $50.74. The company has a market cap of $4.13 billion, a P/E ratio of -4.18, a P/E/G ratio of 2.98 and a beta of 1.64. 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 EPS for the quarter, topping analysts’ consensus estimates 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 was up 17.9% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS.

Semtech 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.