Harbor Capital Advisors Inc. Has $5.72 Million Holdings in Semtech Co. (NASDAQ:SMTC)

Harbor Capital Advisors Inc. boosted its position in shares of Semtech Co. (NASDAQ:SMTC) by 117.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,395 shares of the semiconductor company’s stock after buying an additional 49,835 shares during the period. Harbor Capital Advisors Inc.’s holdings in Semtech were worth $5,715,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SMTC. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the period. Canada Pension Plan Investment Board bought a new stake in Semtech during the second quarter worth $60,000. NBC Securities Inc. lifted its stake in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the last quarter. Quarry LP acquired a new stake in shares of Semtech in the 2nd quarter valued at $63,000. Finally, International Assets Investment Management LLC increased its stake 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 valued at $77,000 after purchasing an additional 1,652 shares during the last quarter.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 1,359 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was 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 of the company’s stock, valued at $271,284.60. The trade was a 24.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares in the company, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,419 shares of company stock worth $676,955. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SMTC. Needham & Company LLC lifted their target price on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Susquehanna upped 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. Northland Securities raised their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Roth Mkm boosted their target price 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.70.

Semtech Stock Performance

NASDAQ:SMTC opened at $66.15 on Friday. Semtech Co. has a 52 week low of $18.16 and a 52 week high of $70.27. The firm’s fifty day moving average is $59.17 and its 200-day moving average is $45.44. The firm has a market cap of $5.01 billion, a P/E ratio of -5.07 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. As a group, sell-side analysts anticipate that Semtech Co. will post -0.01 earnings per share for the current year.

About Semtech

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.