WCM Investment Management LLC Makes New $15.18 Million Investment in Semtech Co. (NASDAQ:SMTC)

WCM Investment Management LLC purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 246,022 shares of the semiconductor company’s stock, valued at approximately $15,180,000.

Several other large investors also recently modified their holdings of SMTC. Huntington National Bank lifted its position in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 302 shares during the period. GAMMA Investing LLC raised its holdings in shares of Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 421 shares during the period. Hanseatic Management Services Inc. boosted its position in shares of Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares in the last quarter. Creative Planning grew its stake in shares of Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares during the period. Finally, Pacer Advisors Inc. increased its position in Semtech by 51.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 598 shares in the last quarter.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 2,990 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total transaction of $177,755.50. Following the completion of the transaction, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at approximately $323,764.70. This represents a 35.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now owns 76,417 shares in the company, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,747 shares of company stock worth $1,095,061. 0.60% of the stock is owned by company insiders.

Semtech Stock Down 9.9 %

Semtech stock opened at $54.51 on Monday. Semtech Co. has a 52 week low of $19.12 and a 52 week high of $79.52. The company’s 50 day moving average price is $65.85 and its two-hundred day moving average price is $50.74. The stock has a market cap of $4.13 billion, a P/E ratio of -4.18, a P/E/G ratio of 2.98 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis.

Analysts Set New Price Targets

Several research analysts have issued reports on SMTC shares. Stifel Nicolaus increased their price target on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 6th. UBS Group assumed coverage on Semtech in a report on Friday, January 17th. They issued a “buy” rating and a $85.00 target price on the stock. Craig Hallum lifted their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. 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 report on Tuesday, November 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 price objective (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

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.