Dynamic Technology Lab Private Ltd Buys 31,320 Shares of Semtech Corporation $SMTC

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Semtech Corporation by 146.1% to a total of 52,751 shares, valued at approximately $1.82 million.
• Multiple institutional investors have significantly boosted their positions in Semtech, with Whale Rock Capital Management increasing its holdings by 364.2% in the last quarter.
• Semtech's stock has received a consensus rating of "Moderate Buy", with an average price target of $60.42 from analysts.

Dynamic Technology Lab Private Ltd grew its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 146.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,751 shares of the semiconductor company's stock after purchasing an additional 31,320 shares during the period. Dynamic Technology Lab Private Ltd owned approximately 0.06% of Semtech worth $1,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in Semtech by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company's stock valued at $402,560,000 after buying an additional 159,770 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Semtech by 15.8% in the 1st quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company's stock valued at $221,737,000 after purchasing an additional 877,422 shares during the period. Whale Rock Capital Management LLC increased its holdings in shares of Semtech by 364.2% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after purchasing an additional 2,562,602 shares during the period. Wellington Management Group LLP lifted its position in shares of Semtech by 7.9% in the first quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company's stock worth $79,575,000 after purchasing an additional 170,132 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Semtech by 74.0% during the first quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company's stock worth $61,926,000 after purchasing an additional 765,558 shares during the period.

Semtech Stock Performance

SMTC traded up $0.67 during trading on Friday, hitting $61.58. The stock had a trading volume of 575,638 shares, compared to its average volume of 2,372,483. The firm has a market cap of $5.34 billion, a PE ratio of 256.33 and a beta of 1.98. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a 50 day simple moving average of $52.69 and a 200-day simple moving average of $41.74.

Insider Activity

In related news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the sale, the chief operating officer owned 105,996 shares in the company, valued at $4,555,708.08. This represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 999 shares of Semtech stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SMTC has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC upped their price target on shares of Semtech from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Craig Hallum increased their price objective on Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Morgan Stanley set a $43.00 target price on Semtech in a research note on Wednesday, May 28th. Finally, Benchmark upped their target price on Semtech from $68.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.