Essential Planning LLC. Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Essential Planning LLC. bought a new position in Semtech Co. (NASDAQ:SMTC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,290 shares of the semiconductor company’s stock, valued at approximately $1,069,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in Semtech in the fourth quarter worth approximately $31,000. Daiwa Securities Group Inc. bought a new stake in Semtech in the fourth quarter worth approximately $3,609,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Semtech by 22.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,939 shares of the semiconductor company’s stock worth $1,171,000 after purchasing an additional 3,457 shares in the last quarter. AlphaQuest LLC increased its holdings in Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Semtech by 20.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,609 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 768 shares in the last quarter.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 10,890 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now owns 11,625 shares of the company’s stock, valued at approximately $403,155. The trade was a 48.37 % decrease in their ownership of the stock. The transaction 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 stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now directly owns 76,417 shares in the company, valued at approximately $5,349,190. This represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $1,472,726 over the last 90 days. Insiders own 0.60% of the company’s stock.

Semtech Stock Up 5.1 %

Shares of NASDAQ:SMTC opened at $33.85 on Thursday. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -2.59, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a 12-month low of $21.56 and a 12-month high of $79.52. The business’s 50 day moving average is $52.84 and its 200 day moving average is $51.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMTC. Craig Hallum boosted their price objective on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Susquehanna boosted 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. B. Riley boosted their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Benchmark boosted their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus set a $60.00 price objective on Semtech in a report on Monday. Three investment 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.