Semtech Corporation $SMTC Shares Sold by Versor Investments LP

Versor Investments LP reduced its holdings in Semtech Corporation (NASDAQ:SMTC) by 59.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,691 shares of the semiconductor company’s stock after selling 6,757 shares during the quarter. Versor Investments LP’s holdings in Semtech were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in Semtech by 55.7% in the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company’s stock valued at $19,839,000 after purchasing an additional 99,335 shares during the last quarter. Nordea Investment Management AB increased its stake in Semtech by 24.4% in the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company’s stock valued at $7,992,000 after purchasing an additional 23,086 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Semtech in the third quarter valued at $4,318,000. Hodges Capital Management Inc. acquired a new position in Semtech in the third quarter valued at $4,624,000. Finally, Atreides Management LP increased its stake in Semtech by 2.4% in the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock valued at $48,453,000 after purchasing an additional 16,192 shares during the last quarter.

Insider Activity

In other news, EVP Jason Elliot Green sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the completion of the sale, the executive vice president owned 8,811 shares of the company’s stock, valued at $720,123.03. This represents a 45.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Burvill sold 2,500 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares of the company’s stock, valued at $392,312.82. The trade was a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,384 shares of company stock valued at $3,000,140 in the last 90 days. 0.48% of the stock is owned by corporate insiders.

Semtech Price Performance

SMTC stock opened at $137.64 on Friday. The stock has a 50-day moving average price of $95.29 and a two-hundred day moving average price of $83.55. Semtech Corporation has a 12-month low of $34.59 and a 12-month high of $143.34. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market cap of $12.82 billion, a PE ratio of -312.82 and a beta of 2.22.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to the consensus estimate of $273.14 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Semtech Corporation will post 1.6 EPS for the current year.

Analysts Set New Price Targets

SMTC has been the subject of several analyst reports. Weiss Ratings lowered Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, March 24th. Morgan Stanley boosted their price target on Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Benchmark boosted their price target on Semtech from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Stifel Nicolaus boosted their price target on Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Finally, Craig Hallum boosted their price target on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $95.71.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.