Stephens Inc. AR Purchases Shares of 14,368 Semtech Co. (NASDAQ:SMTC)

Stephens Inc. AR purchased a new stake in Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 14,368 shares of the semiconductor company’s stock, valued at approximately $889,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMTC. Truist Financial Corp acquired a new stake in Semtech in the 2nd quarter valued at $340,000. CWM LLC increased its stake in shares of Semtech by 33.9% during the 3rd quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 818 shares during the last quarter. Creative Planning increased its stake in shares of Semtech by 20.1% during the 3rd quarter. Creative Planning now owns 21,637 shares of the semiconductor company’s stock worth $988,000 after purchasing an additional 3,619 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Semtech during the 3rd quarter worth about $169,000.

Semtech Stock Up 0.2 %

Shares of NASDAQ SMTC opened at $36.73 on Friday. The firm has a market cap of $2.78 billion, a PE ratio of -2.81, a P/E/G ratio of 2.98 and a beta of 1.64. Semtech Co. has a 12-month low of $19.20 and a 12-month high of $79.52. The company’s fifty day simple moving average is $63.55 and its 200 day simple moving average is $50.65.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share.

Insider Activity

In other Semtech news, CFO Mark Lin sold 6,114 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the transaction, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction dated Thursday, December 19th. The stock was 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 of the company’s stock, valued at $399,866.10. This represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,747 shares of company stock worth $1,095,061 over the last quarter. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMTC shares. Benchmark boosted their price objective on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. B. Riley boosted their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC lowered their price objective on shares of Semtech from $74.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. Stifel Nicolaus lowered their price objective on shares of Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday. Finally, UBS Group assumed coverage on shares of Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 target price for the company. Three 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 currently has an average rating of “Moderate Buy” and a consensus target price of $67.91.

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.