Archford Capital Strategies LLC Purchases New Stake in Semtech Corporation (NASDAQ:SMTC)

Archford Capital Strategies LLC bought a new stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,853 shares of the semiconductor company's stock, valued at approximately $1,061,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in Semtech during the 4th quarter valued at about $31,000. Dunhill Financial LLC acquired a new position in shares of Semtech in the fourth quarter valued at about $31,000. NBC Securities Inc. increased its holdings in shares of Semtech by 104,700.0% in the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 1,047 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 505 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Semtech in the fourth quarter valued at about $52,000.

Insiders Place Their Bets

In other news, COO Asaf Silberstein sold 2,000 shares of the firm'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 transaction, the chief operating officer now owns 105,996 shares in the company, valued at $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Semtech Price Performance

SMTC stock traded down $0.71 during mid-day trading on Friday, reaching $44.91. 3,628,099 shares of the company's stock were exchanged, compared to its average volume of 2,138,895. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -21.80 and a beta of 1.88. The stock's 50 day moving average is $37.32 and its 200 day moving average is $44.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. The company had revenue of $251.10 million for the quarter, compared to the consensus estimate of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. Semtech's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, research analysts expect that Semtech Corporation will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of research reports. Morgan Stanley set a $43.00 price objective on Semtech in a report on Wednesday, May 28th. Craig Hallum cut their price objective on Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Stifel Nicolaus increased their price objective on Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Benchmark restated a "buy" rating and issued a $68.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.58.

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.