Inspire Advisors LLC Lowers Holdings in Semtech Co. (NASDAQ:SMTC)

Inspire Advisors LLC decreased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 21.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 53,826 shares of the semiconductor company’s stock after selling 15,067 shares during the quarter. Semtech accounts for about 0.4% of Inspire Advisors LLC’s holdings, making the stock its 25th biggest position. Inspire Advisors LLC’s holdings in Semtech were worth $3,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SMTC. Huntington National Bank raised its stake in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Semtech in the third quarter worth $125,000.

Semtech Price Performance

Shares of SMTC opened at $31.44 on Tuesday. The business has a fifty day moving average of $54.00 and a 200 day moving average of $51.40. Semtech Co. has a one year low of $21.56 and a one year high of $79.52. The firm has a market capitalization of $2.38 billion, a P/E ratio of -2.41, a PEG ratio of 2.12 and a beta of 1.69.

Insiders Place Their Bets

In other Semtech news, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares in the company, valued at $1,050. This represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. The trade was a 2.55 % 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 quarter. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SMTC. UBS Group began coverage on Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 price target for the company. Craig Hallum boosted their price target on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus decreased their price target on Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Finally, Robert W. Baird decreased their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.