Sandia Investment Management LP Invests $309,000 in Semtech Co. (NASDAQ:SMTC)

Sandia Investment Management LP purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,000 shares of the semiconductor company’s stock, valued at approximately $309,000.

A number of other hedge funds also recently modified their holdings of SMTC. Hollencrest Capital Management acquired a new position in Semtech during the fourth quarter worth $31,000. Dunhill Financial LLC acquired a new position in Semtech during the fourth quarter worth $31,000. Smartleaf Asset Management LLC increased 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 last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Semtech during the fourth quarter worth $52,000. Finally, AlphaQuest LLC increased its holdings in 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.

Semtech Trading Up 2.0%

SMTC stock opened at $40.42 on Friday. The stock has a market capitalization of $3.50 billion, a P/E ratio of -3.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88. Semtech Co. has a 12 month low of $24.05 and a 12 month high of $79.52. The firm has a 50-day moving average price of $33.04 and a 200-day moving average price of $47.68.

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

Insider Activity at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares in the company, valued at $508,368.51. This trade represents a 17.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SMTC shares. Robert W. Baird decreased their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Benchmark decreased their price objective on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. UBS Group decreased their price objective on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Stifel Nicolaus decreased their price objective on shares of Semtech from $54.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Craig Hallum decreased their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.92.

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.