Semtech Corporation $SMTC Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Semtech Corporation by 4.7%, acquiring an additional 22,228 shares, bringing its total ownership to approximately 0.57% worth $22.3 million.
• Numerous hedge funds have recently altered their positions in Semtech, with NBC Securities Inc. drastically raising its stake by 104,700% during the first quarter.
• Wall Street analysts have shown confidence in Semtech, with eleven analysts rating it as a Buy and an average target price of $61.08, reflecting optimistic growth expectations.

Assenagon Asset Management S.A. grew its stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 494,194 shares of the semiconductor company's stock after buying an additional 22,228 shares during the quarter. Assenagon Asset Management S.A. owned 0.57% of Semtech worth $22,308,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SMTC. Smartleaf Asset Management LLC boosted its stake in shares of Semtech by 33.4% during the first 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 during the period. 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 during the period. KBC Group NV raised its position 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 during the last quarter. Cetera Investment Advisers lifted its holdings in Semtech by 12.9% in the 4th quarter. Cetera Investment Advisers now owns 5,226 shares of the semiconductor company's stock worth $323,000 after buying an additional 599 shares during the period. Finally, CWM LLC grew its position in shares of Semtech by 23.3% in the 1st quarter. CWM LLC now owns 3,751 shares of the semiconductor company's stock worth $129,000 after buying an additional 709 shares during the last quarter.

Insider Activity at Semtech

In other news, Director Martin Burvill sold 3,500 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the sale, the director owned 6,909 shares of the company's stock, valued at $433,539.75. The trade was a 33.62% decrease in their ownership of the stock. 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 business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total transaction 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. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,499 shares of company stock worth $349,381 over the last three months. Company insiders own 0.48% of the company's stock.

Semtech Stock Up 1.1%

NASDAQ SMTC traded up $0.66 on Monday, hitting $61.53. The stock had a trading volume of 1,372,504 shares, compared to its average volume of 2,038,749. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $79.52. The business's fifty day moving average price is $54.83 and its 200 day moving average price is $43.08. 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 cap of $5.34 billion, a price-to-earnings ratio of 256.38 and a beta of 1.98.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley set a $43.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Benchmark raised their price target on shares of Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Stifel Nicolaus lifted their target price on shares of Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Craig Hallum lifted their price target on shares of Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, Northland Securities lifted their target price on shares of Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.08.

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.