Semtech Co. (NASDAQ:SMTC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Semtech Co. (NASDAQ:SMTC) by 91.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 36,152 shares of the semiconductor company’s stock after selling 388,969 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Semtech were worth $2,236,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Semtech during the second quarter valued at about $43,395,000. Millennium Management LLC increased its position in shares of Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech in the 3rd quarter valued at approximately $32,126,000. Finally, Clearline Capital LP lifted its holdings in shares of Semtech by 143.1% in the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after acquiring an additional 529,194 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group initiated coverage on Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 target price on the stock. Needham & Company LLC boosted their price objective on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Benchmark raised their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. B. Riley boosted their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus raised their price objective on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $71.09.

Insider Activity at Semtech

In related news, SVP Imran Sherazi sold 1,338 shares of the company’s 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 sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. This represents a 98.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the transaction, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,757 shares of company stock valued at $917,305 over the last three months. 0.60% of the stock is owned by corporate insiders.

Semtech Trading Down 1.5 %

Semtech stock opened at $76.00 on Thursday. The company has a fifty day simple moving average of $63.27 and a 200-day simple moving average of $48.08. The stock has a market cap of $5.75 billion, a P/E ratio of -5.82 and a beta of 1.65. Semtech Co. has a 12-month low of $18.72 and a 12-month high of $79.52.

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. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same period in the previous year, the business earned $0.02 EPS. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis.

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.