Dana Investment Advisors Inc. Sells 3,246 Shares of Semtech Co. (NASDAQ:SMTC)

Dana Investment Advisors Inc. decreased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,977 shares of the semiconductor company’s stock after selling 3,246 shares during the period. Dana Investment Advisors Inc.’s holdings in Semtech were worth $2,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in Semtech by 31.4% during the fourth quarter. Arizona State Retirement System now owns 24,467 shares of the semiconductor company’s stock worth $1,513,000 after purchasing an additional 5,851 shares during the period. M&T Bank Corp bought a new position in Semtech during the fourth quarter worth about $331,000. Atria Investments Inc bought a new position in Semtech during the fourth quarter worth about $300,000. Charles Schwab Investment Management Inc. lifted its stake in Semtech by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company’s stock worth $65,677,000 after purchasing an additional 3,991 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake 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 valued at $48,000 after acquiring an additional 505 shares during the last quarter.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the completion of the sale, the chief financial officer now owns 11,625 shares of the company’s stock, valued at approximately $403,155. The trade was a 48.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,637 shares of company stock valued at $1,472,726. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Craig Hallum lifted their target price on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Robert W. Baird cut their target price on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Susquehanna lifted their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Needham & Company LLC cut their target price on shares of Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Roth Mkm lifted their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Three 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, the company has a consensus rating of “Moderate Buy” and an average price target of $67.91.

Semtech Price Performance

Shares of Semtech stock opened at $33.50 on Friday. The firm has a 50 day simple moving average of $55.20 and a 200 day simple moving average of $51.24. Semtech Co. has a fifty-two week low of $21.56 and a fifty-two week high of $79.52. The firm has a market cap of $2.54 billion, a P/E ratio of -2.57, a P/E/G ratio of 2.12 and a beta of 1.69.

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.