Semtech Co. (NASDAQ:SMTC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Semtech Co. (NASDAQ:SMTC) by 81.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,369,043 shares of the semiconductor company’s stock after purchasing an additional 613,274 shares during the period. Victory Capital Management Inc. owned approximately 2.13% of Semtech worth $29,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund increased its position in shares of Semtech by 16.2% during the 4th quarter. New York State Common Retirement Fund now owns 544,200 shares of the semiconductor company’s stock worth $11,923,000 after purchasing an additional 76,034 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Semtech during the fourth quarter valued at about $213,000. Louisiana State Employees Retirement System purchased a new stake in shares of Semtech in the 4th quarter valued at approximately $703,000. ORG Partners LLC lifted its holdings in shares of Semtech by 16.3% in the 4th quarter. ORG Partners LLC now owns 17,409 shares of the semiconductor company’s stock worth $381,000 after acquiring an additional 2,440 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Semtech during the 4th quarter worth approximately $201,000.

Semtech Trading Up 0.3 %

NASDAQ SMTC opened at $39.81 on Wednesday. Semtech Co. has a 52 week low of $13.13 and a 52 week high of $40.19. The firm has a 50 day moving average of $29.20 and a two-hundred day moving average of $22.47. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. The stock has a market capitalization of $2.57 billion, a PE ratio of -2.34 and a beta of 1.70.

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

Insider Activity

In other Semtech news, CFO Mark Lin bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at $33,230. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

SMTC has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $40.00 target price (up previously from $30.00) on shares of Semtech in a research report on Monday, April 1st. Susquehanna increased their target price on Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, April 1st. Needham & Company LLC raised their target price on Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a report on Monday, April 1st. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. Finally, Stifel Nicolaus raised their price objective on shares of Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.85.

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.