Y Intercept Hong Kong Ltd Has $610,000 Stock Position in Semtech Co. (NASDAQ:SMTC)

Y Intercept Hong Kong Ltd reduced its holdings in Semtech Co. (NASDAQ:SMTC) by 41.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,870 shares of the semiconductor company’s stock after selling 6,851 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Semtech were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SMTC. Huntington National Bank increased its position in Semtech by 105.2% during the third 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. International Assets Investment Management LLC grew its position in 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 purchasing an additional 1,652 shares during the last quarter. Pacer Advisors Inc. increased its holdings 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. Van ECK Associates Corp acquired a new position in shares of Semtech during the third quarter valued at about $125,000. Finally, GAMMA Investing LLC lifted its stake in shares of Semtech by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 421 shares during the period.

Analyst Ratings Changes

Several equities analysts recently issued reports on SMTC shares. Robert W. Baird lowered their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Benchmark upped their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum lifted their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lowered their price target on shares of Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, UBS Group assumed coverage on shares of Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.91.

Semtech Stock Up 8.9 %

Shares of Semtech stock opened at $38.19 on Friday. Semtech Co. has a 12-month low of $20.82 and a 12-month high of $79.52. The stock has a market capitalization of $2.89 billion, a P/E ratio of -2.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64. The company has a 50-day simple moving average of $57.53 and a 200 day simple moving average of $51.35.

Insiders Place Their Bets

In other news, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. The trade was a 98.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 1,359 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at $271,284.60. This represents a 24.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by insiders.

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.