Jacobs Levy Equity Management Inc. Raises Holdings in Semtech Co. (NASDAQ:SMTC)

Jacobs Levy Equity Management Inc. increased its holdings in Semtech Co. (NASDAQ:SMTC) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 382,557 shares of the semiconductor company’s stock after purchasing an additional 22,551 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Semtech were worth $23,661,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its position in Semtech by 148.6% in the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 12,296 shares during the period. Principal Financial Group Inc. lifted its stake in Semtech by 15.8% during the fourth quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock worth $25,396,000 after purchasing an additional 56,108 shares in the last quarter. Rhumbline Advisers lifted its stake in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock worth $12,702,000 after purchasing an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in Semtech during the fourth quarter worth $2,680,000. Finally, Stephens Inc. AR acquired a new position in Semtech during the fourth quarter worth $889,000.

Insider Buying and Selling at Semtech

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

Semtech Trading Up 1.0%

Shares of NASDAQ SMTC opened at $35.07 on Monday. The stock has a market cap of $3.04 billion, a P/E ratio of -2.69, a PEG 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 business’s fifty day simple moving average is $32.41 and its 200-day simple moving average is $47.93.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. On average, equities analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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