Inceptionr LLC Invests $602,000 in Semtech Co. (NASDAQ:SMTC)

Inceptionr LLC bought a new position in Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,740 shares of the semiconductor company’s stock, valued at approximately $602,000.

A number of other hedge funds have also recently modified their holdings of SMTC. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech in the third quarter worth about $32,126,000. Victory Capital Management Inc. boosted its stake in shares of Semtech by 130.7% in the third 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Semtech by 198.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after buying an additional 275,717 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of Semtech in the fourth quarter worth about $15,180,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Semtech in the third quarter worth about $10,556,000.

Semtech Price Performance

NASDAQ SMTC opened at $33.50 on Friday. The company has a market cap 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. The stock’s 50 day simple moving average is $55.20 and its 200-day simple moving average is $51.24. Semtech Co. has a 1-year low of $21.56 and a 1-year high of $79.52.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SMTC. UBS Group began coverage on Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 price target on the stock. Susquehanna increased their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, B. Riley increased their price target on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.91.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 6,114 shares of the 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 completion of the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,637 shares of company stock valued at $1,472,726. 0.60% of the stock is currently owned by insiders.

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.