Regents Gate Capital LLP Takes $2.29 Million Position in Semtech Co. (NASDAQ:SMTC)

Regents Gate Capital LLP purchased a new position in Semtech Co. (NASDAQ:SMTC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 36,951 shares of the semiconductor company’s stock, valued at approximately $2,285,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN increased its position in shares of Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after acquiring an additional 114,999 shares during the period. Geode Capital Management LLC increased its holdings in Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares during the period. Charles Schwab Investment Management Inc. raised its position in Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after purchasing an additional 100,410 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Semtech by 130.7% in the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock worth $37,633,000 after buying an additional 466,868 shares during the period. Finally, Whale Rock Capital Management LLC bought a new position in shares of Semtech during the 3rd quarter worth $32,126,000.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of research reports. B. Riley upped their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm upped their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Robert W. Baird cut their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group started coverage on Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.00.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This represents a 63.39 % 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, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the transaction, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at $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 sold 16,747 shares of company stock worth $1,095,061. Company insiders own 0.60% of the company’s stock.

Semtech Trading Down 9.9 %

Semtech stock opened at $54.51 on Monday. The stock has a 50-day moving average of $65.85 and a two-hundred day moving average of $50.74. Semtech Co. has a one year low of $19.12 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data 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 company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share.

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.