Fisher Asset Management LLC Decreases Holdings in Semtech Co. (NASDAQ:SMTC)

Fisher Asset Management LLC cut its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,077,492 shares of the semiconductor company’s stock after selling 124,483 shares during the period. Fisher Asset Management LLC owned 1.68% of Semtech worth $23,608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Semtech during the 4th quarter worth $164,000. Legato Capital Management LLC acquired a new position in shares of Semtech during the fourth quarter valued at about $201,000. Whittier Trust Co. purchased a new position in shares of Semtech in the 3rd quarter valued at approximately $207,000. Everence Capital Management Inc. purchased a new stake in Semtech during the 4th quarter worth approximately $213,000. Finally, Channel Wealth LLC purchased a new stake in Semtech during the 4th quarter worth approximately $249,000.

Semtech Stock Performance

SMTC opened at $39.01 on Friday. Semtech Co. has a twelve month low of $13.13 and a twelve month high of $39.69. The company has a 50-day moving average price of $28.43 and a 200 day moving average price of $22.12. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.79 and a current ratio of 2.46.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. Semtech had a negative return on equity of 9.41% and a negative net margin of 125.70%. Equities research analysts predict that Semtech Co. will post -0.09 EPS for the current year.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin bought 1,000 shares of the stock in a transaction on Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. Northland Securities boosted their price target on Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research note on Monday, April 1st. Stifel Nicolaus raised their price objective on Semtech from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Susquehanna upped their target price on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, April 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $40.00 price target (up from $30.00) on shares of Semtech in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.85.

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.