Alpha DNA Investment Management LLC bought a new position in shares of Semtech Co. (NASDAQ: SMTC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,018 shares of the semiconductor company’s stock, valued at approximately $578,000.
Alpha DNA Investment Management LLC Invests $578,000 in Semtech Co.
Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank boosted its stake in shares of Semtech by 187.0% during the fourth quarter. Huntington National Bank now owns 508 shares of the semiconductor company’s stock worth $37,000 after buying an additional 331 shares during the period.
Fieldpoint Private Securities LLC purchased a new position in Semtech during the fourth quarter worth about $109,000. Ellevest Inc. raised its holdings in Semtech by 7.2% during the fourth quarter. Ellevest Inc. now owns 2,133 shares of the semiconductor company’s stock worth $154,000 after purchasing an additional 143 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in Semtech during the fourth quarter worth about $173,000. Finally, LS Investment Advisors LLC purchased a new position in Semtech during the fourth quarter worth about $241,000. Institutional investors and hedge funds own 97.14% of the company’s stock.
In related news, SVP Christopher H. Chang sold 7,670 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $73.73, for a total transaction of $565,509.10. Following the sale, the senior vice president now owns 20,433 shares in the company, valued at $1,506,525.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Also, EVP John Michael Wilson sold 27,112 shares of the firm’s stock in a transaction that occurred on Thursday, December 24th. The stock was sold at an average price of $71.24, for a total transaction of $1,931,458.88. Following the sale, the executive vice president now owns 13,572 shares in the company, valued at approximately $966,869.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,782 shares of company stock worth $3,405,248. 1.79% of the stock is owned by company insiders.
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Several research analysts recently issued reports on the stock. Susquehanna increased their price target on shares of Semtech from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday. B. Riley increased their price target on shares of Semtech from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC increased their price target on shares of Semtech from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday.
Cowen increased their target price on shares of Semtech from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, January 13th. Finally, Piper Sandler increased their target price on shares of Semtech from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Semtech currently has an average rating of “Buy” and a consensus price target of $74.93.
Shares of SMTC opened at $69.47 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.23, and a quick ratio of 3.49. The firm has a 50 day simple moving average of $73.25 and a 200-day simple moving average of $66.92. Semtech Co. has a 1-year low of $34.62 and a 1-year high of $83.94. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 96.16, a price-to-earnings-growth ratio of 5.59, and a beta of 1.66.
Semtech (NASDAQ: SMTC) last issued its quarterly earnings data on Tuesday, March 16th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Semtech had a net margin of 8.30% and a return on equity of 9.60%. The business had revenue of $164.70 million during the quarter, compared to analysts’ expectations of $158.24 million. During the same period last year, the company posted $0.40 EPS. The company’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts expect that Semtech Co. will post 1.06 earnings per share for the current fiscal year.
Semtech Corporation designs, develop, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, communications, 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.
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