52,454 Shares in Semtech Corporation $SMTC Acquired by Optimize Financial Inc

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 purchased a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,454 shares of the semiconductor company's stock, valued at approximately $1,804,000. Semtech comprises about 0.7% of Optimize Financial Inc's investment portfolio, making the stock its 16th largest position. Optimize Financial Inc owned 0.06% of Semtech as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC boosted its holdings in shares of Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after acquiring an additional 2,562,602 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Semtech in the first quarter valued at approximately $45,489,000. Ameriprise Financial Inc. boosted its holdings in shares of Semtech by 15.8% in the first quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company's stock valued at $221,737,000 after acquiring an additional 877,422 shares during the period. Nuveen LLC acquired a new stake in shares of Semtech during the first quarter worth $27,940,000. Finally, Invesco Ltd. lifted its holdings in shares of Semtech by 74.0% during the first quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company's stock worth $61,926,000 after purchasing an additional 765,558 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SMTC. Northland Securities increased their price target on Semtech from $48.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Stifel Nicolaus increased their price target on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Benchmark reiterated a "buy" rating and issued a $68.00 price target on shares of Semtech in a report on Tuesday, August 26th. Morgan Stanley set a $43.00 price target on Semtech in a research note on Wednesday, May 28th. Finally, Craig Hallum lifted their price target on Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Eleven equities research 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, Semtech presently has a consensus rating of "Moderate Buy" and an average price target of $60.42.

Semtech Stock Down 0.1%

SMTC opened at $60.62 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. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 252.58 and a beta of 1.98. The business has a 50-day moving average of $51.66 and a two-hundred day moving average of $41.29. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52.

Insider Activity

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated 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 $4,555,708.08. The trade was a 1.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 999 shares of Semtech stock in a transaction dated 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 transaction, the chief financial officer directly 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 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.

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