Semtech Co. (NASDAQ:SMTC) is EAM Investors LLC’s 9th Largest Position

EAM Investors LLC lowered its stake in shares of Semtech Co. (NASDAQ:SMTC) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 96,104 shares of the semiconductor company’s stock after selling 2,212 shares during the period. Semtech makes up approximately 0.8% of EAM Investors LLC’s holdings, making the stock its 9th biggest position. EAM Investors LLC’s holdings in Semtech were worth $5,944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SMTC. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 1,326,226 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after buying an additional 1,911,890 shares during the last quarter. Geode Capital Management LLC grew its position in Semtech by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company’s stock valued at $112,317,000 after buying an additional 197,732 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Semtech by 0.4% during 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 buying an additional 3,991 shares during the last quarter. Finally, Portolan Capital Management LLC raised its position in Semtech by 609.5% in the fourth quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company’s stock worth $41,267,000 after acquiring an additional 573,175 shares during the period.

Analyst Ratings Changes

SMTC has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Morgan Stanley began coverage on Semtech in a research note on Monday, April 7th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Robert W. Baird lowered their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Finally, Craig Hallum lowered their price target on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.92.

Insiders Place Their Bets

In other 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 transaction of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares in the company, valued at approximately $403,155. This represents a 48.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction dated Friday, January 17th. The stock was 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 owns 14 shares of the company’s stock, valued at approximately $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,125 shares of company stock valued at $765,394 in the last quarter. 0.60% of the stock is currently owned by insiders.

Semtech Stock Performance

SMTC stock opened at $27.30 on Wednesday. The company’s fifty day moving average price is $35.23 and its 200-day moving average price is $49.53. Semtech Co. has a one year low of $24.72 and a one year high of $79.52. The company has a market capitalization of $2.36 billion, a PE ratio of -2.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data 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 company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. On average, research analysts predict that Semtech Co. will post -0.02 EPS 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.