Friedenthal Financial Acquires Shares of 12,204 Semtech Co. (NASDAQ:SMTC)

Friedenthal Financial bought a new position in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,204 shares of the semiconductor company’s stock, valued at approximately $755,000.

Several other institutional investors have also modified their holdings of SMTC. Mutual of America Capital Management LLC grew its stake in Semtech by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 673 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Semtech by 128.3% in the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after purchasing an additional 17,150 shares during the period. Natixis Advisors LLC boosted its holdings in Semtech by 100.2% in the third quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock worth $1,626,000 after purchasing an additional 17,823 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after buying an additional 24,517 shares during the last quarter. Finally, Atom Investors LP bought a new stake in shares of Semtech during the 3rd quarter valued at about $2,186,000.

Semtech Stock Performance

SMTC traded down $0.80 during trading on Monday, reaching $65.35. The company had a trading volume of 991,226 shares, compared to its average volume of 1,219,306. Semtech Co. has a 12-month low of $18.16 and a 12-month high of $70.27. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -5.01 and a beta of 1.65. The firm’s 50-day simple moving average is $59.60 and its 200 day simple moving average is $45.92.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. On average, sell-side analysts expect that Semtech Co. will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

SMTC has been the subject of a number of research reports. Northland Securities lifted their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Stifel Nicolaus raised their target price on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Craig Hallum boosted their target price on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Finally, B. Riley increased their price target on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $69.70.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now owns 4,164 shares of the company’s stock, valued at approximately $271,284.60. This trade represents a 24.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,419 shares of company stock valued at $676,955. Company insiders own 0.60% of the company’s stock.

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.