Lisanti Capital Growth LLC Sells 6,400 Shares of Semtech Corporation $SMTC

Lisanti Capital Growth LLC trimmed its position in shares of Semtech Corporation (NASDAQ:SMTC) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,040 shares of the semiconductor company’s stock after selling 6,400 shares during the period. Lisanti Capital Growth LLC owned approximately 0.06% of Semtech worth $3,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 360 shares during the period. AlphaQuest LLC grew its stake in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 235 shares during the period. Assetmark Inc. grew its stake in shares of Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 576 shares during the period. Finally, IFP Advisors Inc bought a new stake in shares of Semtech in the 4th quarter valued at approximately $53,000.

Semtech Stock Up 7.0%

Shares of SMTC opened at $156.78 on Friday. The company has a market capitalization of $14.60 billion, a P/E ratio of -356.32 and a beta of 2.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. Semtech Corporation has a one year low of $34.59 and a one year high of $164.48. The business’s 50 day simple moving average is $100.99 and its 200-day simple moving average is $86.11.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.Semtech’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts predict that Semtech Corporation will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

SMTC has been the topic of several analyst reports. Needham & Company LLC upped their price objective on Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. B. Riley Financial reiterated a “buy” rating on shares of Semtech in a research note on Tuesday, May 12th. Craig Hallum upped their price objective on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Susquehanna upped their price objective on Semtech from $110.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $157.00 price objective on Semtech in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.50.

Insiders Place Their Bets

In other news, EVP Jason Elliot Green sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the transaction, the executive vice president directly owned 8,811 shares of the company’s stock, valued at $720,123.03. The trade was a 45.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 9,186 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $75.05, for a total value of $689,409.30. Following the transaction, the chief financial officer directly owned 32,710 shares in the company, valued at approximately $2,454,885.50. This represents a 21.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 36,884 shares of company stock worth $3,069,245 over the last ninety days. 0.48% of the stock is owned by insiders.

Semtech Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.