Archford Capital Strategies LLC Purchases Shares of 30,853 Semtech Corporation (NASDAQ:SMTC)

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

A number of other institutional investors and hedge funds have also bought and sold shares of SMTC. Vanguard Group Inc. grew its position in shares of Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after purchasing an additional 1,326,226 shares in the last quarter. Hood River Capital Management LLC grew its position in shares of Semtech by 1.8% during the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company's stock worth $213,385,000 after purchasing an additional 59,743 shares in the last quarter. Whale Rock Capital Management LLC grew its position in shares of Semtech by 364.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock worth $202,015,000 after purchasing an additional 2,562,602 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after purchasing an additional 1,911,890 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Semtech by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company's stock worth $112,317,000 after purchasing an additional 197,732 shares in the last quarter.

Insider Activity

In other news, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the transaction, the chief operating officer now owns 105,996 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SMTC. UBS Group reduced their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Craig Hallum reduced their price target on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley set a $43.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Benchmark reiterated a "buy" rating and set a $68.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $54.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.58.

Semtech Price Performance

NASDAQ:SMTC traded down $0.71 on Friday, hitting $44.91. The company had a trading volume of 3,628,099 shares, compared to its average volume of 2,131,729. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -21.80 and a beta of 1.88. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $37.32 and a two-hundred day moving average of $44.45. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $79.52.

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

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.