Centiva Capital LP Invests $526,000 in Semtech Co. (NASDAQ:SMTC)

Centiva Capital LP acquired a new stake in shares of Semtech Co. (NASDAQ:SMTC) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 8,508 shares of the semiconductor company’s stock, valued at approximately $526,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after purchasing an additional 1,911,890 shares in the last quarter. Vanguard Group Inc. grew its holdings in Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after acquiring an additional 1,326,226 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Semtech in the 4th quarter valued at approximately $51,315,000. Capital World Investors bought a new position in shares of Semtech during the fourth quarter valued at $37,110,000. Finally, Portolan Capital Management LLC lifted its holdings in shares of Semtech by 609.5% during the fourth quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company’s stock worth $41,267,000 after purchasing an additional 573,175 shares during the period.

Analyst Upgrades and Downgrades

SMTC has been the subject of several analyst reports. Benchmark lowered their target price on Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Robert W. Baird cut 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. Stifel Nicolaus decreased their target price on shares of Semtech from $54.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Finally, Craig Hallum decreased their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.92.

Semtech Price Performance

Shares of SMTC opened at $35.07 on Friday. Semtech Co. has a one year low of $24.05 and a one year high of $79.52. The company has a market cap of $3.04 billion, a PE ratio of -2.69, a P/E/G ratio of 2.12 and a beta of 1.88. The stock has a 50-day moving average of $32.41 and a 200-day moving average of $47.88.

Semtech (NASDAQ:SMTC) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the previous year, the company earned ($0.06) earnings per share. Semtech’s revenue for the quarter was up 30.1% compared to the same quarter last year. Analysts expect that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark Lin sold 2,907 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.