Royce & Associates LP Sells 13,000 Shares of Semtech Co. (NASDAQ:SMTC)

Royce & Associates LP lessened its position in Semtech Co. (NASDAQ:SMTC) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,500 shares of the semiconductor company’s stock after selling 13,000 shares during the quarter. Royce & Associates LP owned 0.09% of Semtech worth $4,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank boosted its position in Semtech by 105.2% during the third 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. Hollencrest Capital Management purchased a new stake in Semtech during the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares during the period. AlphaQuest LLC boosted its position in Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 772 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 598 shares during the period.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Roth Mkm upped their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Northland Securities increased their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. B. Riley increased their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Susquehanna increased their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average price target of $61.55.

Semtech Price Performance

Shares of SMTC opened at $41.61 on Thursday. Semtech Co. has a one year low of $21.56 and a one year high of $79.52. The company has a 50-day simple moving average of $50.11 and a two-hundred day simple moving average of $51.16. The firm has a market capitalization of $3.15 billion, a PE ratio of -3.19, a price-to-earnings-growth 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 analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same period in the prior year, the business posted ($0.06) EPS. Semtech’s revenue for the quarter was up 30.1% on a year-over-year basis. Analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In related news, 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 $5,349,190. This trade represents a 2.55 % 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 10,890 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares of the company’s stock, valued at $403,155. This trade represents a 48.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,577 shares of company stock valued at $884,310. Corporate insiders own 0.60% of the company’s stock.

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.