Trexquant Investment LP Purchases New Position in Semtech Corporation $SMTC

Key Points

• Trexquant Investment LP acquired 146,030 shares of Semtech Corporation, valued at approximately $5 million, representing 0.17% ownership in the company.
• Several hedge funds increased their stakes in Semtech during the 1st quarter, with increases ranging from 12.9% to 58.5% by different funds.
• Analysts have set various price targets for Semtech, with an average target of $60.42 and the majority rating the stock as a "Moderate Buy."

Trexquant Investment LP purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 146,030 shares of the semiconductor company's stock, valued at approximately $5,023,000. Trexquant Investment LP owned 0.17% of Semtech as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in Semtech by 33.4% during the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 257 shares during the period. Dunhill Financial LLC bought a new stake in Semtech during the fourth quarter valued at about $31,000. Versant Capital Management Inc raised its holdings in Semtech by 58.5% during the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 553 shares during the period. KBC Group NV raised its holdings in Semtech by 16.8% during the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock valued at $140,000 after acquiring an additional 586 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Semtech by 12.9% in the fourth quarter. Cetera Investment Advisers now owns 5,226 shares of the semiconductor company's stock worth $323,000 after purchasing an additional 599 shares during the last quarter.

Semtech Trading Up 3.4%

Shares of NASDAQ:SMTC traded up $1.97 during trading hours on Thursday, hitting $59.90. 1,335,600 shares of the company's stock traded hands, compared to its average volume of 2,413,213. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The business has a fifty day moving average price of $50.75 and a 200-day moving average price of $40.77. The firm has a market capitalization of $5.20 billion, a P/E ratio of 249.58 and a beta of 1.98. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.81.

Analysts Set New Price Targets

SMTC has been the topic of several research reports. Craig Hallum lifted their target price on Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Piper Sandler lifted their target price on Semtech from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Northland Securities lifted their target price on Semtech from $48.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Stifel Nicolaus lifted their target price on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Benchmark reaffirmed a "buy" rating and issued a $68.00 target price on shares of Semtech in a report on Tuesday, August 26th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $60.42.

Insider Activity at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the business'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 completion of the sale, the chief operating officer owned 105,996 shares in the company, valued at approximately $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

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.