Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 48,656 Semtech Corporation $SMTC

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new position in Semtech Corporation, purchasing 48,656 shares valued at approximately $1.67 million, representing around 0.06% of the company.
• Other major investors like Whale Rock Capital Management LLC and Westfield Capital Management have significantly increased their stakes, with Whale Rock increasing its position by 364.2% in the last quarter.
• As of May, Semtech received a consensus rating of "Moderate Buy" from analysts, with price targets ranging from $43.00 to $68.00, according to recent research reports.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 48,656 shares of the semiconductor company's stock, valued at approximately $1,674,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Semtech as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC purchased a new position in Semtech during the 4th quarter worth approximately $31,000. NBC Securities Inc. grew its stake in shares of Semtech by 104,700.0% in the 1st 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 last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Semtech in the 4th quarter valued at approximately $52,000. Versant Capital Management Inc lifted its holdings in shares of Semtech by 58.5% in the 1st quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after buying an additional 553 shares during the period. Finally, Archer Investment Corp acquired a new stake in shares of Semtech in the 1st quarter valued at approximately $64,000.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 999 shares of Semtech stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the sale, the chief financial officer owned 17,211 shares of the company's stock, valued at $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction on Tuesday, June 24th. The shares were 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 directly owned 105,996 shares of the company's stock, valued at approximately $4,555,708.08. This represents a 1.85% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Semtech Price Performance

Shares of NASDAQ SMTC traded up $0.59 during trading on Monday, reaching $50.42. The company had a trading volume of 872,261 shares, compared to its average volume of 1,608,918. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52. The stock has a market capitalization of $4.37 billion, a PE ratio of -24.48 and a beta of 1.94. The stock has a 50-day moving average price of $47.61 and a two-hundred day moving average price of $40.22. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. The business had revenue of $251.10 million during 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%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. As a group, sell-side analysts predict that Semtech Corporation will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

SMTC has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Morgan Stanley set a $43.00 price target on Semtech in a report on Wednesday, May 28th. UBS Group reduced their price target on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Semtech currently has an average rating of "Moderate Buy" and an average target price of $59.58.

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.