Semtech Co. (NASDAQ:SMTC) Stock Position Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in shares of Semtech Co. (NASDAQ:SMTC) by 41.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,870 shares of the semiconductor company’s stock after selling 6,851 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Semtech were worth $610,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Huntington National Bank raised its holdings in Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the period. International Assets Investment Management LLC increased its position in shares of Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 598 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Semtech in the 3rd quarter valued at approximately $125,000. Finally, GAMMA Investing LLC boosted its stake in Semtech by 15.3% in the 4th 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 period.

Semtech Stock Up 8.9 %

SMTC stock opened at $38.19 on Friday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -2.93, a P/E/G ratio of 2.12 and a beta of 1.64. The firm has a 50 day moving average of $57.53 and a two-hundred day moving average of $51.35. Semtech Co. has a 12 month low of $20.82 and a 12 month high of $79.52.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Northland Securities boosted their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Craig Hallum upped their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus decreased their price objective on Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Finally, Robert W. Baird decreased their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.91.

Insider Buying and Selling

In related news, CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the transaction, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. This trade represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,747 shares of company stock worth $1,095,061. Corporate insiders own 0.60% of the company’s stock.

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.