Semtech Co. (NASDAQ:SMTC) Shares Sold by Ridgewood Investments LLC

Ridgewood Investments LLC decreased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 52.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700 shares of the semiconductor company’s stock after selling 787 shares during the quarter. Ridgewood Investments LLC’s holdings in Semtech were worth $43,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank increased its stake 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 last quarter. Canada Pension Plan Investment Board acquired a new stake in Semtech during the second quarter worth $60,000. NBC Securities Inc. increased 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 acquiring an additional 739 shares during the last quarter. Quarry LP acquired a new stake in Semtech during the second quarter worth $63,000. Finally, International Assets Investment Management LLC increased its stake in Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares during the last quarter.

Insiders Place Their Bets

In other Semtech news, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at $399,866.10. The trade was a 31.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Lin sold 1,359 shares of Semtech 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 sale, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at $271,284.60. This trade represents a 24.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,419 shares of company stock valued at $676,955 in the last ninety days. Insiders own 0.60% of the company’s stock.

Semtech Trading Down 2.1 %

NASDAQ:SMTC opened at $66.15 on Friday. The firm has a market cap of $5.01 billion, a PE ratio of -5.07 and a beta of 1.65. The stock has a fifty day moving average price of $59.17 and a 200 day moving average price of $45.44. Semtech Co. has a 12-month low of $18.16 and a 12-month high of $70.27.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company 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%. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. Equities analysts forecast that Semtech Co. will post -0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Northland Securities lifted their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Needham & Company LLC lifted their price objective on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price objective on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Roth Mkm lifted their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.70.

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.