Semtech Corporation $SMTC Shares Sold by Versor Investments LP

Versor Investments LP reduced its holdings in Semtech Corporation (NASDAQ:SMTC) by 59.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,691 shares of the semiconductor company’s stock after selling 6,757 shares during the quarter. Versor Investments LP’s holdings in Semtech were worth $346,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SMTC. Vanguard Group Inc. raised its holdings in Semtech by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Semtech by 3.7% during the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after purchasing an additional 261,647 shares during the last quarter. Capital Research Global Investors raised its holdings in Semtech by 13.9% during the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after purchasing an additional 571,372 shares during the last quarter. State Street Corp raised its holdings in Semtech by 1.5% during the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after purchasing an additional 60,788 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Semtech by 8.7% during the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after purchasing an additional 289,313 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on SMTC. Robert W. Baird lifted their price objective on Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Oppenheimer lifted their price objective on Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Finally, Craig Hallum lifted their price objective on Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.71.

Insider Buying and Selling

In other news, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $90.11, for a total value of $180,220.00. Following the completion of the transaction, the chief executive officer directly owned 73,228 shares of the company’s stock, valued at $6,598,575.08. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 9,186 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $75.05, for a total value of $689,409.30. Following the completion of the transaction, the chief financial officer directly owned 32,710 shares of the company’s stock, valued at approximately $2,454,885.50. This trade represents a 21.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,384 shares of company stock valued at $3,000,140. Company insiders own 0.48% of the company’s stock.

Semtech Stock Performance

NASDAQ SMTC opened at $137.64 on Friday. Semtech Corporation has a fifty-two week low of $34.59 and a fifty-two week high of $143.34. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of -312.82 and a beta of 2.22. The business has a fifty day moving average of $95.29 and a 200-day moving average of $83.55. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $273.14 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts predict that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Semtech Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.