Moody Aldrich Partners LLC Invests $3.48 Million in Semtech Co. (NASDAQ:SMTC)

Moody Aldrich Partners LLC purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 56,317 shares of the semiconductor company’s stock, valued at approximately $3,483,000. Moody Aldrich Partners LLC owned approximately 0.07% of Semtech as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SMTC. Huntington National Bank raised its stake in shares of Semtech by 105.2% in the third 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. NBC Securities Inc. grew its holdings in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares in the last quarter. Quarry LP bought a new position in Semtech during the 2nd quarter worth about $63,000. International Assets Investment Management LLC grew its holdings in Semtech by 4,464.9% during the 3rd 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. Finally, Pacer Advisors Inc. grew its holdings in Semtech by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 598 shares in the last quarter.

Insider Transactions at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of Semtech 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 sale, the chief operating officer now owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the sale, the senior vice president now directly owns 14 shares in the company, valued at $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,757 shares of company stock valued at $917,305 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Susquehanna increased their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. B. Riley raised their price target on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Craig Hallum raised their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Northland Securities raised their price target on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus raised their price target on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.09.

Semtech Price Performance

SMTC opened at $61.11 on Wednesday. Semtech Co. has a 12-month low of $18.72 and a 12-month high of $79.52. The firm has a 50 day moving average of $64.93 and a two-hundred day moving average of $49.06.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. Semtech’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS.

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.