Victory Capital Management Inc. Lowers Holdings in Semtech Co. (NASDAQ:SMTC)

Victory Capital Management Inc. trimmed its position in shares of Semtech Co. (NASDAQ:SMTC) by 7.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 763,247 shares of the semiconductor company’s stock after selling 60,951 shares during the quarter. Victory Capital Management Inc. owned about 1.01% of Semtech worth $47,207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank grew its holdings in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 505 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Semtech by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 598 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Semtech in the 3rd quarter worth $125,000. Finally, GAMMA Investing LLC raised its stake in shares of Semtech by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 421 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SMTC shares. B. Riley increased their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. UBS Group assumed coverage on shares of Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective for the company. Susquehanna increased their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Finally, Roth Mkm lifted their target price 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.91.

Semtech Stock Performance

NASDAQ SMTC opened at $33.50 on Friday. The business’s fifty day moving average is $54.60 and its 200 day moving average is $51.32. The company has a market capitalization of $2.54 billion, a PE ratio of -2.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech Co. has a fifty-two week low of $21.56 and a fifty-two week high of $79.52.

Insider Activity at Semtech

In other news, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now directly owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,637 shares of company stock worth $1,472,726. 0.60% of the stock is owned by company insiders.

About Semtech

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.