Ovata Capital Management Ltd Invests $4.95 Million in Semtech Co. (NASDAQ:SMTC)

Ovata Capital Management Ltd purchased a new stake in Semtech Co. (NASDAQ:SMTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 80,000 shares of the semiconductor company’s stock, valued at approximately $4,948,000. Semtech accounts for 1.9% of Ovata Capital Management Ltd’s holdings, making the stock its 15th largest position. Ovata Capital Management Ltd owned approximately 0.11% of Semtech at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after buying an additional 1,326,226 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares during the period. Wellington Management Group LLP increased its holdings in Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after purchasing an additional 1,911,890 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Semtech by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company’s stock valued at $112,317,000 after purchasing an additional 197,732 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Semtech by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company’s stock valued at $65,677,000 after purchasing an additional 3,991 shares in the last quarter.

Semtech Stock Down 5.7 %

NASDAQ:SMTC opened at $28.01 on Friday. Semtech Co. has a 12-month low of $25.17 and a 12-month high of $79.52. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.15, a P/E/G ratio of 2.12 and a beta of 1.85. The stock’s 50 day moving average price is $41.67 and its two-hundred day moving average price is $50.68.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the prior year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts expect that Semtech Co. will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SMTC shares. Craig Hallum dropped their target price on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Stifel Nicolaus cut their price objective on shares of Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. 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. UBS Group cut their price target 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, Piper Sandler restated an “overweight” rating and issued a $55.00 price objective (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.55.

Insider Buying and Selling

In related news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at $5,349,190. The trade was a 2.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares in the company, valued at approximately $1,050. This represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,125 shares of company stock valued at $905,394. Company 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.