Xponance Inc. Has $210,000 Stake in Semtech Corporation (NASDAQ:SMTC)

Xponance Inc. decreased its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 15.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,102 shares of the semiconductor company’s stock after selling 1,078 shares during the period. Xponance Inc.’s holdings in Semtech were worth $210,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Moody Aldrich Partners LLC grew its position in Semtech by 75.6% during the first quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company’s stock worth $3,402,000 after buying an additional 42,587 shares in the last quarter. Principal Financial Group Inc. grew its position in Semtech by 4.2% during the first quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company’s stock worth $14,722,000 after buying an additional 17,345 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Semtech during the first quarter worth about $430,000. KBC Group NV grew its position in Semtech by 16.8% during the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company’s stock worth $140,000 after buying an additional 586 shares in the last quarter. Finally, Archford Capital Strategies LLC acquired a new stake in Semtech during the first quarter worth about $1,061,000.

Insider Activity

In other news, CFO Mark Lin sold 999 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the completion of the transaction, the chief financial officer directly owned 17,211 shares of the company’s stock, valued at approximately $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the sale, the chief operating officer owned 105,996 shares of the company’s stock, valued at $4,555,708.08. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SMTC shares. Stifel Nicolaus upped their price objective on Semtech from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. UBS Group lowered their price objective on shares of Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley set a $43.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.58.

Semtech Stock Up 5.4%

Shares of Semtech stock opened at $53.62 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The firm’s 50-day moving average is $42.05 and its two-hundred day moving average is $42.81. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -26.03 and a beta of 1.92.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The firm had revenue of $251.10 million during the quarter, compared to analyst estimates of $249.79 million. During the same period last year, the firm posted $0.06 EPS. Semtech’s revenue was up 21.8% on a year-over-year basis. As a group, research analysts expect that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Semtech Company 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.