Assenagon Asset Management S.A. Purchases 165,244 Shares of Semtech Corporation $SMTC

Assenagon Asset Management S.A. increased its position in Semtech Corporation (NASDAQ:SMTC) by 852.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,630 shares of the semiconductor company’s stock after purchasing an additional 165,244 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.20% of Semtech worth $13,605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its holdings in Semtech by 243.2% in the third 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 bought a new stake in shares of Semtech during the 3rd quarter valued at $41,000. AlphaQuest LLC grew its position in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after buying an additional 173 shares during the period. Jones Financial Companies Lllp grew its position 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 period. Finally, Assetmark Inc. increased 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 acquiring an additional 576 shares in the last quarter.

Semtech Stock Performance

Shares of SMTC stock opened at $74.16 on Friday. Semtech Corporation has a one year low of $24.05 and a one year high of $96.46. The company’s 50-day moving average is $84.03 and its 200 day moving average is $74.86. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of -168.55 and a beta of 1.99. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.67 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share. Sell-side analysts expect that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Semtech news, Director Gregory Michael Fischer sold 1,034 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $75.50, for a total transaction of $78,067.00. Following the sale, the director directly owned 2,857 shares in the company, valued at approximately $215,703.50. This trade represents a 26.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Asaf Silberstein sold 10,000 shares of Semtech stock in a transaction on Monday, February 9th. The stock was 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 directly owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. The trade was a 12.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 49,377 shares of company stock worth $4,055,452 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Craig Hallum lifted their price target on shares of Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Morgan Stanley raised their target price on shares of Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Robert W. Baird lifted their target price on shares of Semtech from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Benchmark reissued a “buy” rating and issued a $115.00 price target on shares of Semtech in a research report on Tuesday, March 17th. Finally, Needham & Company LLC upped their price target on Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Fourteen investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Semtech Company 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.