Advisors Preferred LLC Buys New Stake in Semtech Co. (NASDAQ:SMTC)

Advisors Preferred LLC bought a new position in shares of Semtech Co. (NASDAQ:SMTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,351 shares of the semiconductor company’s stock, valued at approximately $767,000.

A number of other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in Semtech by 12.0% during the 4th quarter. State of Alaska Department of Revenue now owns 47,941 shares of the semiconductor company’s stock valued at $2,965,000 after purchasing an additional 5,124 shares during the period. WT Asset Management Ltd acquired a new stake in Semtech during the fourth quarter worth about $1,237,000. Yousif Capital Management LLC increased its stake in Semtech by 11.2% during the fourth quarter. Yousif Capital Management LLC now owns 31,746 shares of the semiconductor company’s stock valued at $1,963,000 after acquiring an additional 3,189 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in Semtech in the 4th quarter valued at approximately $396,000. Finally, Moody Aldrich Partners LLC bought a new stake in shares of Semtech in the 4th quarter worth approximately $3,483,000.

Insider Buying and Selling

In related news, CFO Mark Lin sold 2,990 shares of Semtech stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the sale, the chief financial officer now owns 5,446 shares of the company’s stock, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. This represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on SMTC shares. Craig Hallum upped their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm increased their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. B. Riley lifted their target price on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Benchmark increased their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Susquehanna lifted their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Semtech Trading Down 9.9 %

Semtech stock opened at $54.51 on Friday. The business’s 50-day simple moving average is $65.85 and its 200 day simple moving average is $50.49. Semtech Co. has a 12-month low of $19.12 and a 12-month high of $79.52.

Semtech (NASDAQ:SMTC) last issued its 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. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS.

Semtech 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.