Swiss National Bank Increases Holdings in Semtech Co. (NASDAQ:SMTC)

Swiss National Bank grew its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 31.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 166,000 shares of the semiconductor company’s stock after acquiring an additional 39,700 shares during the quarter. Swiss National Bank’s holdings in Semtech were worth $10,267,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SMTC. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech during the 3rd quarter valued at about $32,126,000. Burkehill Global Management LP purchased a new stake in Semtech in the 4th quarter worth about $18,555,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Semtech by 198.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after purchasing an additional 275,717 shares during the period. WCM Investment Management LLC purchased a new stake in Semtech in the 4th quarter worth about $15,180,000. Finally, Wellington Management Group LLP purchased a new stake in Semtech in the 3rd quarter worth about $10,556,000.

Analysts Set New Price Targets

SMTC has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Robert W. Baird reduced their target price 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. UBS Group reduced their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Stifel Nicolaus reduced their target price on shares of Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s 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 Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin sold 1,359 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total value of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares in the company, valued at $271,284.60. This trade represents a 24.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,577 shares of company stock worth $884,310 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Semtech Stock Performance

NASDAQ SMTC opened at $40.64 on Friday. The firm’s 50 day moving average price is $49.58 and its 200-day moving average price is $51.08. Semtech Co. has a 52-week low of $22.13 and a 52-week high of $79.52. The company has a market cap of $3.08 billion, a PE ratio of -3.11, a P/E/G ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. Semtech’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) earnings per share. On average, 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.