Inspire Investing LLC Purchases 12,016 Shares of Semtech Co. (NASDAQ:SMTC)

Inspire Investing LLC lifted its holdings in Semtech Co. (NASDAQ:SMTC) by 119.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,053 shares of the semiconductor company’s stock after purchasing an additional 12,016 shares during the quarter. Inspire Investing LLC’s holdings in Semtech were worth $1,364,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SMTC. Huntington National Bank grew its stake in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the last quarter. International Assets Investment Management LLC grew its position in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Semtech during the second quarter worth approximately $60,000. Finally, Quarry LP purchased a new stake in Semtech during the second quarter valued at approximately $63,000.

Semtech Trading Down 0.1 %

Shares of NASDAQ SMTC opened at $75.91 on Friday. The stock has a 50 day moving average price of $63.84 and a 200 day moving average price of $48.27. Semtech Co. has a 52-week low of $18.72 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at $5,349,190. This represents a 2.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. This trade represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,757 shares of company stock valued at $917,305. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of recent research reports. Craig Hallum lifted their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC lifted their price objective on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Benchmark increased their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm lifted their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $71.09.

Semtech Company 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.