17,290 Shares in Semtech Co. (NASDAQ:SMTC) Bought by Essential Planning LLC.

Essential Planning LLC. purchased a new position in Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,290 shares of the semiconductor company’s stock, valued at approximately $1,069,000.

Other hedge funds also recently modified their holdings of the company. Huntington National Bank increased its position in shares of 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 purchasing an additional 302 shares during the period. Hollencrest Capital Management bought a new position in shares of Semtech in the fourth quarter worth $31,000. Smartleaf Asset Management LLC increased its position in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 505 shares during the period. AlphaQuest LLC boosted its stake in Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 772 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 598 shares in the last quarter.

Semtech Trading Up 5.1 %

Shares of SMTC stock opened at $33.85 on Thursday. The business’s 50-day moving average price is $52.84 and its 200-day moving average price is $51.25. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -2.59, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a 12 month low of $21.56 and a 12 month high of $79.52.

Analyst Ratings Changes

Several research firms recently weighed in on SMTC. Northland Securities raised their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Stifel Nicolaus set a $60.00 price objective on Semtech in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Buying and Selling

In related news, SVP Imran Sherazi sold 2,946 shares of Semtech 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 transaction, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. This represents a 48.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $1,472,726 over the last ninety days. 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.