KLP Kapitalforvaltning AS Grows Position in Semtech Corporation $SMTC

KLP Kapitalforvaltning AS increased its position in shares of Semtech Corporation (NASDAQ:SMTC) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,300 shares of the semiconductor company’s stock after purchasing an additional 1,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Semtech were worth $826,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SMTC. Ameritas Advisory Services LLC purchased a new stake in Semtech in the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC raised its stake in shares of Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 257 shares in the last quarter. Archer Investment Corp bought a new position in shares of Semtech during the 1st quarter worth approximately $64,000. Strs Ohio bought a new position in shares of Semtech during the 1st quarter worth approximately $65,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 2,565 shares in the last quarter.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $70.75 on Friday. The company’s fifty day moving average price is $60.55 and its 200 day moving average price is $46.77. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The company has a market capitalization of $6.14 billion, a PE ratio of 294.79 and a beta of 2.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Oppenheimer upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 price objective for the company in a research note on Tuesday, September 30th. Benchmark upped their price target on shares of Semtech from $68.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. TD Cowen assumed coverage on shares of Semtech in a research note on Wednesday, October 1st. They set a “buy” rating and a $75.00 price target on the stock. Cowen assumed coverage on shares of Semtech in a report on Tuesday, September 30th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Semtech in a report on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Semtech has an average rating of “Moderate Buy” and a consensus target price of $65.36.

Insider Buying and Selling at Semtech

In other Semtech news, Director Martin Burvill sold 3,500 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the transaction, the director directly owned 6,909 shares of the company’s stock, valued at $433,539.75. This trade represents a 33.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Lin sold 971 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the transaction, the chief financial officer directly owned 17,844 shares in the company, valued at approximately $1,299,578.52. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% 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.