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

B. Metzler seel. Sohn & Co. AG purchased a new position in Semtech Co. (NASDAQ:SMTC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,976 shares of the semiconductor company’s stock, valued at approximately $1,730,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its position in shares of Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 505 shares in the last quarter. AlphaQuest LLC increased its position in Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after buying an additional 772 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Semtech in the 4th quarter valued at $91,000. Finally, Pacer Advisors Inc. increased its stake in 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 Analyst Weigh In

A number of research firms have recently issued reports on SMTC. Northland Securities boosted their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Stifel Nicolaus reduced their price target on shares of Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Robert W. Baird decreased their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Benchmark reduced their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.55.

Insider Activity

In other news, CFO Mark Lin sold 2,907 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the sale, the chief financial officer now directly owns 13,481 shares in the company, valued at $508,368.51. This represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction on 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. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,484 shares of company stock valued at $993,933 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Semtech Stock Performance

SMTC stock opened at $36.62 on Thursday. The company has a 50 day moving average price of $43.50 and a two-hundred day moving average price of $50.91. The stock has a market capitalization of $3.17 billion, a P/E 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.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data 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 business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. During the same period in the prior year, the firm earned ($0.06) EPS. Semtech’s revenue for the quarter was up 30.1% on a year-over-year basis. Research analysts forecast that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

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.