Entropy Technologies LP Buys New Position in Semtech Co. (NASDAQ:SMTC)

Entropy Technologies LP purchased a new position in Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 10,166 shares of the semiconductor company’s stock, valued at approximately $629,000.

Several other institutional investors also recently added to or reduced their stakes in SMTC. Whale Rock Capital Management LLC acquired a new stake in shares of Semtech in the third quarter worth $32,126,000. Victory Capital Management Inc. grew its position in Semtech by 130.7% in the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock worth $37,633,000 after purchasing an additional 466,868 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Semtech by 198.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after purchasing an additional 275,717 shares during the period. Wellington Management Group LLP acquired a new position in shares of Semtech during the third quarter valued at about $10,556,000. Finally, Fred Alger Management LLC lifted its stake in shares of Semtech by 40.0% in the third quarter. Fred Alger Management LLC now owns 670,173 shares of the semiconductor company’s stock valued at $30,600,000 after buying an additional 191,347 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Stifel Nicolaus cut their target price on Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler reiterated an “overweight” rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note on Monday. Needham & Company LLC dropped their price objective on shares of Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a research note on Monday. Finally, Northland Securities raised their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.91.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the transaction, the chief financial officer now owns 5,446 shares in the company, valued at $323,764.70. The trade was a 35.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock valued at $1,095,061 over the last ninety days. 0.60% of the stock is owned by insiders.

Semtech Trading Up 1.5 %

Shares of Semtech stock opened at $38.18 on Wednesday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -2.93, a P/E/G ratio of 2.98 and a beta of 1.64. The firm’s 50-day moving average price is $64.77 and its two-hundred day moving average price is $50.85. Semtech Co. has a 1-year low of $19.12 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis.

Semtech 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.