GAMMA Investing LLC Buys 791 Shares of Semtech Corporation $SMTC

GAMMA Investing LLC boosted its stake in Semtech Corporation (NASDAQ:SMTC) by 26.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,807 shares of the semiconductor company’s stock after acquiring an additional 791 shares during the period. GAMMA Investing LLC’s holdings in Semtech were worth $172,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SMTC. Westfield Capital Management Co. LP bought a new stake in Semtech in the first quarter worth about $45,489,000. Ameriprise Financial Inc. raised its position in Semtech by 15.8% in the first quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company’s stock worth $221,737,000 after acquiring an additional 877,422 shares during the period. Nuveen LLC bought a new stake in Semtech in the first quarter worth about $27,940,000. Invesco Ltd. raised its position in Semtech by 74.0% in the first quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company’s stock worth $61,926,000 after acquiring an additional 765,558 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Semtech by 168.1% in the first quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock valued at $41,627,000 after purchasing an additional 758,642 shares during the period.

Insider Activity

In other news, Director Martin Burvill sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director owned 6,909 shares of the company’s stock, valued at approximately $433,539.75. This represents a 33.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

SMTC has been the topic of several research reports. Benchmark boosted their price target on shares of Semtech from $68.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Craig Hallum boosted their price target on shares of Semtech from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Stifel Nicolaus boosted their price target on shares of Semtech from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Needham & Company LLC boosted their price target on shares of Semtech from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, Piper Sandler boosted their price objective on shares of Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $61.08.

Semtech Price Performance

SMTC stock opened at $61.98 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. Semtech Corporation has a one year low of $24.05 and a one year high of $79.52. The stock has a market cap of $5.38 billion, a PE ratio of 258.25 and a beta of 1.98. The firm has a 50 day simple moving average of $55.89 and a two-hundred day simple moving average of $44.04.

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.