Semtech Co. (NASDAQ:SMTC) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC cut its stake in shares of Semtech Co. (NASDAQ:SMTC) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,282,973 shares of the semiconductor company’s stock after selling 71,693 shares during the period. Neuberger Berman Group LLC’s holdings in Semtech were worth $79,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hollencrest Capital Management bought a new stake in Semtech during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its position in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares during the last quarter. AlphaQuest LLC boosted its stake in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Semtech in the 4th quarter worth approximately $91,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 337 shares in the last quarter.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 2,907 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now directly owns 13,481 shares in the company, valued at approximately $508,368.51. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,125 shares of company stock worth $905,394. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on SMTC shares. Robert W. Baird decreased their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Morgan Stanley began coverage on Semtech in a research report on Monday. They issued an “equal weight” rating and a $30.00 price target for the company. UBS Group dropped their price objective on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Semtech in a report on Friday, March 14th. Finally, Benchmark cut their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have given 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 $58.92.

Semtech Stock Performance

Shares of SMTC opened at $29.98 on Thursday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -2.30, a P/E/G ratio of 2.12 and a beta of 1.85. Semtech Co. has a 1 year low of $24.72 and a 1 year high of $79.52. The company’s fifty day moving average is $38.20 and its two-hundred day moving average is $50.09.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $249.40 million. Semtech’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that Semtech Co. will post -0.02 EPS for the current year.

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.