WT Asset Management Ltd Purchases New Shares in Semtech Co. (NASDAQ:SMTC)

WT Asset Management Ltd acquired a new position in Semtech Co. (NASDAQ:SMTC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 20,000 shares of the semiconductor company’s stock, valued at approximately $1,237,000.

Other large investors have also recently made changes to their positions in the company. Huntington National Bank raised its holdings in Semtech by 105.2% during the 3rd 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 period. NBC Securities Inc. raised its stake in shares of Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of 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 during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Semtech by 51.1% during the 4th 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 period. Finally, GAMMA Investing LLC grew its holdings in Semtech by 76.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 1,185 shares during the last quarter.

Semtech Trading Up 4.3 %

Shares of Semtech stock opened at $66.22 on Wednesday. Semtech Co. has a 1 year low of $18.72 and a 1 year high of $79.52. The firm’s 50-day moving average is $66.07 and its two-hundred day moving average is $50.15.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share.

Insider Transactions at Semtech

In other Semtech news, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares in the company, valued at $399,866.10. This trade represents a 31.80 % 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, CFO Mark Lin sold 2,990 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the transaction, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,747 shares of company stock valued at $1,095,061. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SMTC. Roth Mkm raised their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC raised their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. UBS Group started coverage on Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective on the stock. B. Riley lifted their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Benchmark boosted their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.09.

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.