Ridgewood Investments LLC Trims Stake in Semtech Co. (NASDAQ:SMTC)

Ridgewood Investments LLC reduced its position in Semtech Co. (NASDAQ:SMTC) by 52.9% in the 4th quarter, Holdings Channel reports. The firm owned 700 shares of the semiconductor company’s stock after selling 787 shares during the period. Ridgewood Investments LLC’s holdings in Semtech were worth $43,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC increased its position in Semtech by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock valued at $515,000 after acquiring an additional 673 shares during the period. Intech Investment Management LLC increased its position in Semtech by 128.3% in the 3rd quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 17,150 shares during the period. Natixis Advisors LLC increased its position in Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock valued at $1,626,000 after acquiring an additional 17,823 shares during the period. Harbor Capital Advisors Inc. increased its position in Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after acquiring an additional 24,517 shares during the period. Finally, Atom Investors LP acquired a new position in Semtech during the 3rd quarter worth approximately $2,186,000.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 1,359 shares of the 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 transaction, the chief financial officer now owns 4,164 shares of the company’s stock, valued at $271,284.60. This represents a 24.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the transaction, the senior vice president now directly owns 6,317 shares in the company, valued at approximately $399,866.10. This represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,419 shares of company stock valued at $676,955. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SMTC has been the topic of several recent analyst reports. B. Riley boosted their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Craig Hallum boosted their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Benchmark boosted their target price on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC boosted their target price on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $69.70.

Semtech Stock Performance

SMTC stock opened at $66.15 on Friday. Semtech Co. has a 1 year low of $18.16 and a 1 year high of $70.27. The stock’s 50 day moving average price is $59.17 and its 200 day moving average price is $45.44. The firm has a market cap of $5.01 billion, a P/E ratio of -5.07 and a beta of 1.65.

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