Inspire Investing LLC Raises Position in Semtech Co. (NASDAQ:SMTC)

Inspire Investing LLC lifted its holdings in Semtech Co. (NASDAQ:SMTC) by 119.7% in the fourth quarter, Holdings Channel reports. The firm owned 22,053 shares of the semiconductor company’s stock after buying an additional 12,016 shares during the period. Inspire Investing LLC’s holdings in Semtech were worth $1,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN boosted its holdings in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after acquiring an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $43,395,000. Millennium Management LLC boosted its stake in Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in Semtech during the 3rd quarter worth approximately $32,126,000. Finally, Clearline Capital LP increased its stake in Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after purchasing an additional 529,194 shares in the last quarter.

Insider Activity

In other news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. This trade represents a 98.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,757 shares of company stock worth $917,305 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Semtech Stock Performance

Semtech stock opened at $75.91 on Friday. Semtech Co. has a 12 month low of $18.72 and a 12 month high of $79.52. The stock’s 50 day simple moving average is $63.84 and its two-hundred day simple moving average is $48.27.

Semtech (NASDAQ:SMTC) last released 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 company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter last year, the business earned $0.02 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Susquehanna lifted their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Piper Sandler restated an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Craig Hallum boosted their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus raised their price objective on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Benchmark upped their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.09.

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.