Jackson Creek Investment Advisors LLC Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Jackson Creek Investment Advisors LLC purchased a new stake in Semtech Co. (NASDAQ:SMTC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,528 shares of the semiconductor company’s stock, valued at approximately $1,517,000.

A number of other hedge funds have also modified their holdings of SMTC. International Assets Investment Management LLC grew its holdings in Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares during the period. Van ECK Associates Corp acquired a new position in shares of Semtech in the 3rd quarter valued at $125,000. Amalgamated Bank increased its position in shares of Semtech by 10.1% in the 3rd quarter. Amalgamated Bank now owns 21,694 shares of the semiconductor company’s stock valued at $991,000 after buying an additional 1,995 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after buying an additional 447 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Semtech by 10.5% during the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company’s stock worth $16,187,000 after acquiring an additional 33,606 shares in the last quarter.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $32.33 on Friday. The business has a 50-day moving average of $55.87 and a 200-day moving average of $51.37. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -2.48, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a fifty-two week low of $21.56 and a fifty-two week high of $79.52.

Insider Buying and Selling at Semtech

In other news, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now owns 11,625 shares of the company’s stock, valued at $403,155. The trade was a 48.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock worth $1,472,726 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SMTC shares. Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and set a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Robert W. Baird reduced their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. UBS Group began coverage on shares of Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, B. Riley upped their target price 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. Three 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.com, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $67.91.

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.