Twinbeech Capital LP Buys New Shares in Semtech Co. (NASDAQ:SMTC)

Twinbeech Capital LP bought a new stake in Semtech Co. (NASDAQ:SMTCFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,269 shares of the semiconductor company’s stock, valued at approximately $2,614,000.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in Semtech by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company’s stock worth $482,000 after purchasing an additional 870 shares during the period. SG Americas Securities LLC grew its position in Semtech by 643.7% during the 4th quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company’s stock worth $3,545,000 after purchasing an additional 49,609 shares during the period. Inspire Investing LLC grew its position in Semtech by 119.7% during the 4th quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company’s stock worth $1,364,000 after purchasing an additional 12,016 shares during the period. Accel Wealth Management acquired a new stake in Semtech during the 4th quarter worth about $204,000. Finally, KBC Group NV grew its position in Semtech by 113.0% during the 4th quarter. KBC Group NV now owns 3,498 shares of the semiconductor company’s stock worth $216,000 after purchasing an additional 1,856 shares during the period.

Semtech Trading Down 2.0%

Shares of Semtech stock opened at $39.35 on Wednesday. The firm has a market capitalization of $3.41 billion, a PE ratio of -3.02, a P/E/G ratio of 2.12 and a beta of 1.88. Semtech Co. has a twelve month low of $24.05 and a twelve month high of $79.52. The firm’s 50-day moving average price is $33.30 and its 200 day moving average price is $47.62.

Semtech (NASDAQ:SMTCGet Free Report) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, sell-side analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 10,890 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now directly owns 11,625 shares of the company’s stock, valued at $403,155. This trade represents a 48.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SMTC has been the topic of several analyst reports. Morgan Stanley initiated coverage on Semtech in a research report on Monday, April 7th. They set an “equal weight” rating and a $30.00 price target on the stock. Craig Hallum lowered their target price on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. UBS Group lowered their target price on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus lowered their target price on shares of Semtech from $54.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler reissued an “overweight” rating and set a $55.00 target price (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.92.

Get Our Latest Research Report on Semtech

Semtech Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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