ExodusPoint Capital Management LP Has $3.04 Million Stock Position in Semtech Co. (NASDAQ:SMTC)

ExodusPoint Capital Management LP boosted its holdings in Semtech Co. (NASDAQ:SMTC) by 132.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,193 shares of the semiconductor company’s stock after buying an additional 27,994 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of Semtech worth $3,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in shares of Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its position in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after buying an additional 772 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Semtech during the fourth quarter worth $91,000. Finally, Pacer Advisors Inc. increased its holdings in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after buying an additional 598 shares in the last quarter.

Semtech Trading Up 1.1 %

Shares of SMTC opened at $28.31 on Tuesday. The firm’s fifty day simple moving average is $41.09 and its two-hundred day simple moving average is $50.66. Semtech Co. has a 12 month low of $25.17 and a 12 month high of $79.52. The stock has a market capitalization of $2.45 billion, a P/E ratio of -2.17, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.06) EPS. As a group, research analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Semtech

In related news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $905,394 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SMTC shares. Stifel Nicolaus reduced their price objective on Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Benchmark reduced their price target on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Morgan Stanley assumed coverage on shares of Semtech in a report on Monday. They issued an “equal weight” rating and a $30.00 price objective for the company. Northland Securities boosted their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.92.

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.