B. Metzler seel. Sohn & Co. AG Buys New Shares in Semtech Co. (NASDAQ:SMTC)

B. Metzler seel. Sohn & Co. AG purchased a new position in Semtech Co. (NASDAQ:SMTC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,976 shares of the semiconductor company’s stock, valued at approximately $1,730,000.

Several other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Semtech during the fourth quarter worth $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 worth $48,000 after acquiring an additional 505 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 772 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Semtech in the 4th quarter valued at about $91,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 598 shares during the period.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Stifel Nicolaus dropped their target price on Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Benchmark cut their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Robert W. Baird reduced their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, UBS Group reduced their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average price target of $61.55.

Insider Activity at Semtech

In other news, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Lin sold 1,359 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at approximately $271,284.60. This trade represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,484 shares of company stock valued at $993,933. Corporate insiders own 0.60% of the company’s stock.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $36.62 on Thursday. The firm has a market cap of $3.17 billion, a PE ratio of -2.81, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a one year low of $27.25 and a one year high of $79.52. The firm has a fifty day moving average of $43.50 and a 200 day moving average of $50.91.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the previous year, the company earned ($0.06) EPS. Semtech’s revenue was up 30.1% compared to the same quarter last year. On average, equities analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

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.