Semtech Corporation $SMTC Shares Acquired by Swiss National Bank

Swiss National Bank grew its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,900 shares of the semiconductor company’s stock after acquiring an additional 900 shares during the period. Swiss National Bank owned about 0.19% of Semtech worth $5,741,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dunhill Financial LLC bought a new position in shares of Semtech in the 4th quarter worth about $31,000. NBC Securities Inc. lifted its position in Semtech by 104,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 1,047 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Semtech in the 4th quarter valued at about $52,000. Versant Capital Management Inc lifted its position in Semtech by 58.5% in the 1st quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 553 shares during the last quarter. Finally, Archer Investment Corp bought a new stake in shares of Semtech during the 1st quarter worth about $64,000.

Analysts Set New Price Targets

A number of research firms have commented on SMTC. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Stifel Nicolaus lifted their target price on shares of Semtech from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. UBS Group dropped their target price on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Morgan Stanley set a $43.00 price target on shares of Semtech in a report on Wednesday, May 28th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.58.

Semtech Trading Up 1.2%

Shares of SMTC stock opened at $50.42 on Tuesday. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The firm’s fifty day simple moving average is $47.61 and its 200 day simple moving average is $40.22. The firm has a market capitalization of $4.37 billion, a P/E ratio of -24.48 and a beta of 1.94. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $251.10 million for the quarter, compared to analyst estimates of $249.79 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Semtech’s revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts predict that Semtech Corporation will post -0.02 EPS for the current year.

Insider Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin sold 999 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total value of $43,796.16. Following the sale, the chief financial officer owned 17,211 shares of the company’s stock, valued at $754,530.24. The trade was a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the sale, the chief operating officer directly owned 105,996 shares in the company, 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. Insiders own 0.48% of the company’s stock.

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.