Fisher Asset Management LLC Trims Holdings in Semtech Co. (NASDAQ:SMTC)

Fisher Asset Management LLC decreased its position in shares of Semtech Co. (NASDAQ:SMTC) by 10.1% in the fourth quarter, HoldingsChannel reports. The firm owned 939,487 shares of the semiconductor company’s stock after selling 105,404 shares during the quarter. Fisher Asset Management LLC’s holdings in Semtech were worth $58,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SMTC. Whale Rock Capital Management LLC acquired a new stake in Semtech during the 3rd quarter valued at approximately $32,126,000. Victory Capital Management Inc. raised its holdings in shares of Semtech by 130.7% during the third quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock worth $37,633,000 after purchasing an additional 466,868 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Semtech by 198.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock valued at $18,940,000 after purchasing an additional 275,717 shares during the period. WCM Investment Management LLC purchased a new stake in Semtech in the fourth quarter valued at $15,180,000. Finally, Wellington Management Group LLP acquired a new stake in Semtech during the 3rd quarter worth about $10,556,000.

Insider Buying and Selling

In related news, CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total transaction of $177,755.50. Following the completion of the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were 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 in the company, valued at $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,747 shares of company stock worth $1,095,061 in the last 90 days. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna boosted their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Craig Hallum boosted their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus lowered their price objective on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. B. Riley lifted their target price on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Northland Securities increased their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.91.

Semtech Stock Performance

NASDAQ:SMTC opened at $38.19 on Friday. The company has a fifty day moving average of $57.53 and a two-hundred day moving average of $51.35. Semtech Co. has a fifty-two week low of $20.82 and a fifty-two week high of $79.52. The stock has a market capitalization of $2.89 billion, a PE ratio of -2.93, a P/E/G ratio of 2.12 and a beta of 1.64.

Semtech Company 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.