Neuberger Berman Group LLC Sells 71,693 Shares of Semtech Co. (NASDAQ:SMTC)

Neuberger Berman Group LLC lessened its holdings in Semtech Co. (NASDAQ:SMTC) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,282,973 shares of the semiconductor company’s stock after selling 71,693 shares during the period. Neuberger Berman Group LLC owned 1.70% of Semtech worth $79,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. Hollencrest Capital Management bought a new stake in shares of Semtech during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC lifted its holdings in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after buying an additional 505 shares during the period. AlphaQuest LLC grew its position in Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Semtech in the 4th quarter worth approximately $91,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Semtech by 27.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 337 shares in the last quarter.

Semtech Price Performance

Shares of SMTC stock opened at $29.98 on Thursday. The firm’s 50-day simple moving average is $38.20 and its 200-day simple moving average is $50.09. Semtech Co. has a 1-year low of $24.72 and a 1-year high of $79.52. The firm has a market cap of $2.59 billion, a P/E ratio of -2.30, a PEG ratio of 2.12 and a beta of 1.85.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same period in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue was up 30.1% compared to the same quarter last year. Analysts expect that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SMTC. Benchmark lowered their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, March 14th. UBS Group dropped their price target on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. Morgan Stanley started 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. Finally, Craig Hallum reduced their price target on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.92.

Insider Activity at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. This represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock worth $905,394 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

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.