Transce3nd LLC Invests $112,000 in Semtech Co. (NASDAQ:SMTC)

Transce3nd LLC bought a new stake in shares of Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,811 shares of the semiconductor company’s stock, valued at approximately $112,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in shares of Semtech during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC raised its position in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Semtech during the 4th quarter valued at $52,000. AlphaQuest LLC increased its stake in shares of Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Semtech during the fourth quarter valued at $91,000.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 10,890 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at $403,155. This represents a 48.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 16,787 shares of company stock worth $665,044 in the last quarter. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SMTC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. Piper Sandler restated an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Benchmark dropped their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, March 14th. UBS Group decreased their price objective 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 cut their price target on Semtech from $54.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $57.33.

Semtech Stock Down 7.2 %

Shares of SMTC opened at $24.34 on Tuesday. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The company has a market cap of $2.11 billion, a PE ratio of -1.87, a P/E/G ratio of 2.12 and a beta of 1.85. The business has a fifty day moving average of $33.95 and a 200 day moving average of $49.12.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, research analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Semtech 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.