Pacer Advisors Inc. Raises Stock Position in Semtech Co. (NASDAQ:SMTC)

Pacer Advisors Inc. increased its position in shares of Semtech Co. (NASDAQ:SMTC) by 51.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,768 shares of the semiconductor company’s stock after acquiring an additional 598 shares during the period. Pacer Advisors Inc.’s holdings in Semtech were worth $109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank increased its holdings in shares of Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the period. NBC Securities Inc. grew its position in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares in the last quarter. International Assets Investment Management LLC increased its stake in Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Semtech by 76.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of Semtech during the 3rd quarter valued at about $125,000.

Insider Transactions at Semtech

In other Semtech news, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares in the company, valued at $399,866.10. This trade represents a 31.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Lin sold 2,990 shares of the company’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 value of $177,755.50. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at $323,764.70. This trade represents a 35.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,747 shares of company stock worth $1,095,061. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Susquehanna upped their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Northland Securities raised their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. UBS Group started coverage on shares of Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, Roth Mkm upped their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.09.

Semtech Price Performance

Shares of Semtech stock opened at $66.22 on Wednesday. The stock has a market capitalization of $5.01 billion, a P/E ratio of -5.07 and a beta of 1.64. Semtech Co. has a one year low of $18.72 and a one year high of $79.52. The business’s 50 day simple moving average is $66.07 and its two-hundred day simple moving average is $50.15.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 earnings per share.

About Semtech

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.