Optimize Financial Inc Makes New $1.80 Million Investment in Semtech Corporation $SMTC

Key Points

• Optimize Financial Inc acquired 52,454 shares of Semtech Corporation valued at approximately $1.8 million, making it the 16th largest position in its investment portfolio as of its latest SEC filing.
• Whale Rock Capital Management LLC significantly increased its holding in Semtech by 364.2%, now owning over 3.2 million shares valued at about $202 million.
• Analyst ratings for Semtech are predominantly positive, with a consensus rating of "Moderate Buy" and a price target averaging $60.42, indicating bullish sentiment around the stock.

Optimize Financial Inc acquired a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 52,454 shares of the semiconductor company's stock, valued at approximately $1,804,000. Semtech accounts for approximately 0.7% of Optimize Financial Inc's portfolio, making the stock its 16th biggest position. Optimize Financial Inc owned 0.06% of Semtech as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 257 shares in the last quarter. Versant Capital Management Inc increased its holdings in Semtech by 58.5% during 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 in the last quarter. KBC Group NV increased its holdings in Semtech by 16.8% during the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock valued at $140,000 after purchasing an additional 586 shares in the last quarter. Cetera Investment Advisers increased its holdings in Semtech by 12.9% during the 4th quarter. Cetera Investment Advisers now owns 5,226 shares of the semiconductor company's stock valued at $323,000 after purchasing an additional 599 shares in the last quarter. Finally, CWM LLC increased its holdings in Semtech by 23.3% during the 1st quarter. CWM LLC now owns 3,751 shares of the semiconductor company's stock valued at $129,000 after purchasing an additional 709 shares in the last quarter.

Semtech Trading Down 1.0%

Shares of NASDAQ:SMTC traded down $0.61 during midday trading on Friday, hitting $60.30. The company had a trading volume of 1,396,643 shares, compared to its average volume of 1,921,866. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 251.25 and a beta of 1.98. The firm has a fifty day simple moving average of $53.00 and a 200 day simple moving average of $41.92.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Craig Hallum increased their price objective on Semtech from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Needham & Company LLC increased their price objective on Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Benchmark increased their price objective on Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Northland Securities increased their price objective on Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Finally, Stifel Nicolaus increased their price objective on Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Semtech currently has an average rating of "Moderate Buy" and a consensus price target of $61.08.

Insider Buying and Selling at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Lin sold 999 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the transaction, the chief financial officer owned 17,211 shares in the company, valued at $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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.