Los Angeles Capital Management LLC Acquires New Stake in Semtech Co. (NASDAQ:SMTC)

Los Angeles Capital Management LLC bought a new position in Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,330 shares of the semiconductor company’s stock, valued at approximately $515,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SMTC. Huntington National Bank grew its holdings in shares of Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the last quarter. International Assets Investment Management LLC grew its stake in Semtech by 4,464.9% in the 3rd 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. Pacer Advisors Inc. increased its position in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 598 shares during the period. Van ECK Associates Corp purchased a new position in shares of Semtech during the third quarter worth approximately $125,000. Finally, GAMMA Investing LLC raised its stake in shares of Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after acquiring an additional 421 shares in the last quarter.

Semtech Stock Down 6.8 %

Shares of SMTC opened at $35.58 on Tuesday. The company has a 50 day moving average of $56.99 and a two-hundred day moving average of $51.47. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -2.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64. Semtech Co. has a twelve month low of $21.48 and a twelve month high of $79.52.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 6,114 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. This trade represents a 63.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the sale, the senior vice president now directly owns 6,317 shares in the company, valued at approximately $399,866.10. This represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock valued at $1,095,061 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMTC. Needham & Company LLC reduced their price objective on Semtech from $74.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Stifel Nicolaus dropped their price target on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Benchmark lifted their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Susquehanna upped their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Finally, Roth Mkm raised their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.91.

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.