Semtech Co. (NASDAQ:SMTC) Shares Bought by Mariner LLC

Mariner LLC lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,136 shares of the semiconductor company’s stock after buying an additional 582 shares during the quarter. Mariner LLC’s holdings in Semtech were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Semtech by 827.0% in 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 during the last quarter. Vanguard Group Inc. grew 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 worth $713,906,000 after purchasing an additional 1,326,226 shares in the last quarter. Schroder Investment Management Group bought a new stake in Semtech in the fourth quarter valued at about $27,254,000. Burkehill Global Management LP acquired a new stake in Semtech during the fourth quarter valued at approximately $18,555,000. Finally, WCM Investment Management LLC bought a new position in Semtech during the 4th quarter worth approximately $15,180,000.

Insider Activity

In related news, CFO Mark Lin sold 2,907 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the transaction, the chief financial officer now directly owns 13,481 shares of the company’s stock, valued at approximately $508,368.51. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 16,787 shares of company stock worth $665,044. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SMTC. Craig Hallum lowered their price target on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a report on Friday, March 14th. UBS Group dropped their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Piper Sandler restated an “overweight” rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Benchmark lowered their price objective on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.33.

Semtech Price Performance

NASDAQ SMTC opened at $30.03 on Friday. The company has a 50 day simple moving average of $33.20 and a 200-day simple moving average of $48.67. Semtech Co. has a 52-week low of $24.05 and a 52-week high of $79.52. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -2.30, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. On average, analysts predict that Semtech Co. will post -0.02 EPS for the current 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.