Dynamic Technology Lab Private Ltd Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Dynamic Technology Lab Private Ltd bought a new stake in Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,431 shares of the semiconductor company’s stock, valued at approximately $1,326,000.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Semtech by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after acquiring an additional 421 shares during the period. Hollencrest Capital Management purchased a new position in shares of Semtech in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its stake in shares of Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares in the last quarter. Pacer Advisors Inc. lifted its stake 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 buying an additional 598 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Semtech by 20.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,609 shares of the semiconductor company’s stock worth $285,000 after buying an additional 768 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SMTC shares. Stifel Nicolaus cut their price target on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 14th. Craig Hallum cut their target price on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Northland Securities upped their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Robert W. Baird cut their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Benchmark reduced their price objective on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.55.

Semtech Trading Down 5.7 %

Shares of NASDAQ:SMTC opened at $28.01 on Friday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -2.15, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech Co. has a 12 month low of $25.17 and a 12 month high of $79.52. The company has a 50-day moving average price of $41.67 and a 200-day moving average price of $50.74.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. During the same period in the previous year, the business earned ($0.06) EPS. The business’s revenue was up 30.1% compared to the same quarter last year. As a group, research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the chief operating officer now owns 76,417 shares in the company, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the sale, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $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 have sold 20,125 shares of company stock worth $905,394. 0.60% of the stock is currently 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.