Semtech Co. (NASDAQ:SMTC) Shares Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,710 shares of the semiconductor company’s stock after buying an additional 8,500 shares during the quarter. Lisanti Capital Growth LLC owned 0.12% of Semtech worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Semtech by 30.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,772 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 3,437 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Semtech in the third quarter worth $207,000. Barclays PLC lifted its stake in shares of Semtech by 4.9% during the third quarter. Barclays PLC now owns 43,595 shares of the semiconductor company’s stock worth $1,123,000 after buying an additional 2,039 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Semtech by 76.7% during the third quarter. New York State Common Retirement Fund now owns 468,166 shares of the semiconductor company’s stock valued at $12,055,000 after buying an additional 203,182 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Semtech by 270.1% in the 3rd quarter. Quantbot Technologies LP now owns 101,184 shares of the semiconductor company’s stock valued at $2,605,000 after acquiring an additional 73,846 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have commented on SMTC shares. Northland Securities lifted their price target on Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Robert W. Baird upped their target price on Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Craig Hallum raised their price target on shares of Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Stifel Nicolaus upped their price objective on shares of Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Piper Sandler restated an “overweight” rating and set a $40.00 target price (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 issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.85.

Insider Activity at Semtech

In other news, CFO Mark Lin bought 1,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were acquired at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Semtech Price Performance

SMTC traded up $0.10 during trading on Tuesday, hitting $39.81. The company’s stock had a trading volume of 1,149,648 shares, compared to its average volume of 1,989,820. 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 business’s fifty day simple moving average is $28.81 and its 200 day simple moving average is $22.31. Semtech Co. has a twelve month low of $13.13 and a twelve month high of $40.19.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results 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 company had revenue of $192.95 million during 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%. On average, equities analysts expect that Semtech Co. will post -0.09 EPS for the current year.

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.