Everence Capital Management Inc. Has $246,000 Stock Position in Semtech Co. (NASDAQ:SMTC)

Everence Capital Management Inc. lowered its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 59.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,970 shares of the semiconductor company’s stock after selling 5,760 shares during the period. Everence Capital Management Inc.’s holdings in Semtech were worth $246,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Huntington National Bank boosted its stake in shares of Semtech by 105.2% during the 3rd 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 period. NBC Securities Inc. lifted its holdings in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 739 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Semtech in the second quarter valued at about $60,000. Finally, Quarry LP acquired a new stake in shares of Semtech during the 2nd quarter worth about $63,000.

Wall Street Analyst Weigh In

SMTC has been the topic of a number of research reports. Needham & Company LLC upped their price target on shares of Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Susquehanna increased their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Stifel Nicolaus boosted their price target on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum increased their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average price target of $69.70.

Semtech Trading Up 3.8 %

Shares of NASDAQ:SMTC opened at $67.60 on Thursday. The firm has a 50 day moving average of $58.70 and a 200-day moving average of $45.29. Semtech Co. has a 12 month low of $18.16 and a 12 month high of $70.27. The stock has a market capitalization of $5.12 billion, a PE ratio of -5.18 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business 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 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. On average, research analysts predict that Semtech Co. will post -0.01 EPS for the current fiscal year.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This trade represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,419 shares of company stock valued at $676,955 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

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.