Argos Wealth Advisors LLC Takes Position in Semtech Corporation $SMTC

Key Points

• Argos Wealth Advisors initiated a new position in Semtech during the fourth quarter, buying 8,682 shares valued at about $640,000.
• Several other institutional investors also increased their stakes, while analyst sentiment remained largely positive, with 14 Buy ratings and a consensus rating of Moderate Buy.
• Semtech reported quarterly earnings of $0.44 per share, topping estimates, and revenue of $274.4 million, up 9.3% year over year; however, insiders recently sold shares, including CEO Hong Q. Hou and Director Martin Burvill.

Argos Wealth Advisors LLC purchased a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 8,682 shares of the semiconductor company's stock, valued at approximately $640,000.

A number of other institutional investors have also recently made changes to their positions in SMTC. New York State Common Retirement Fund raised its stake in shares of Semtech by 55.7% in the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company's stock valued at $19,839,000 after acquiring an additional 99,335 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Semtech by 24.4% in the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company's stock valued at $7,992,000 after acquiring an additional 23,086 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Semtech in the third quarter valued at $4,318,000. Hodges Capital Management Inc. acquired a new stake in shares of Semtech in the third quarter valued at $4,624,000. Finally, Atreides Management LP raised its stake in shares of Semtech by 2.4% in the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company's stock valued at $48,453,000 after acquiring an additional 16,192 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on the company. TD Cowen reissued a "buy" rating on shares of Semtech in a report on Tuesday, February 24th. Needham & Company LLC raised their price objective on Semtech from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Oppenheimer raised their price objective on Semtech from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. B. Riley Financial restated a "buy" rating on shares of Semtech in a research report on Tuesday. Finally, Wall Street Zen cut Semtech from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average target price of $95.71.

Semtech Price Performance

Shares of SMTC opened at $132.08 on Wednesday. Semtech Corporation has a twelve month low of $34.59 and a twelve month high of $137.10. The stock's 50 day moving average is $92.45 and its two-hundred day moving average is $82.16. The firm has a market capitalization of $12.30 billion, a PE ratio of -300.18 and a beta of 2.22. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. Research analysts anticipate that Semtech Corporation will post 1.6 earnings per share for the current year.

Insider Buying and Selling at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of the business's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $90.11, for a total transaction of $180,220.00. Following the sale, the chief executive officer owned 73,228 shares of the company's stock, valued at $6,598,575.08. The trade was a 2.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin Burvill sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the sale, the director directly owned 4,409 shares in the company, valued at $392,312.82. This trade represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 36,384 shares of company stock worth $3,000,140. Corporate insiders own 0.48% of the company's stock.

Semtech Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company's products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech's portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.

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