Harbor Capital Advisors Inc. Sells 22,783 Shares of Semtech Corporation $SMTC

Harbor Capital Advisors Inc. lowered its position in Semtech Corporation (NASDAQ:SMTC) by 54.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,402 shares of the semiconductor company’s stock after selling 22,783 shares during the period. Harbor Capital Advisors Inc.’s holdings in Semtech were worth $1,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 360 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in Semtech in the 3rd quarter valued at about $41,000. AlphaQuest LLC lifted its position in shares of Semtech by 42.5% during the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after buying an additional 173 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after buying an additional 235 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after buying an additional 576 shares during the last quarter.

Semtech Price Performance

Semtech stock opened at $82.65 on Friday. The firm has a 50 day moving average price of $83.87 and a 200-day moving average price of $75.63. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $96.46. The company has a market capitalization of $7.68 billion, a P/E ratio of -187.84 and a beta of 2.06.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $273.14 million. During the same quarter in the previous year, the firm posted $0.40 EPS. Semtech’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts predict that Semtech Corporation will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC increased their price target on Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Stifel Nicolaus boosted their price objective on Semtech from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Wall Street Zen downgraded Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. TD Cowen reaffirmed a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Finally, Robert W. Baird lifted their target price on Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Insider Activity

In related news, Director Saar Gillai sold 3,600 shares of Semtech stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $75.26, for a total value of $270,936.00. Following the completion of the sale, the director owned 9,523 shares of the company’s stock, valued at approximately $716,700.98. This trade represents a 27.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Asaf Silberstein sold 10,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the sale, the chief operating officer owned 68,496 shares in the company, valued at $6,301,632. This represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,851 shares of company stock worth $4,744,808. 0.48% of the stock is owned by company insiders.

Semtech Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.