Dynamic Technology Lab Private Ltd Increases Stake in 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 stake in Semtech Corporation (NASDAQ:SMTC - Free Report) by 146.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,751 shares of the semiconductor company's stock after acquiring an additional 31,320 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.06% of Semtech worth $1,815,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SMTC. Smartleaf Asset Management LLC grew 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 worth $36,000 after acquiring an additional 257 shares during the last quarter. Versant Capital Management Inc increased its stake 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 in the last quarter. KBC Group NV grew its holdings in shares of Semtech by 16.8% during the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock valued at $140,000 after buying an additional 586 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Semtech by 12.9% in the 4th quarter. Cetera Investment Advisers now owns 5,226 shares of the semiconductor company's stock valued at $323,000 after acquiring an additional 599 shares during the period. Finally, CWM LLC raised its stake in 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 acquiring an additional 709 shares during the last quarter.

Semtech Price Performance

Shares of SMTC stock traded up $0.14 during mid-day trading on Wednesday, hitting $61.72. 1,723,185 shares of the stock were exchanged, compared to its average volume of 2,388,320. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $79.52. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. The company has a market cap of $5.36 billion, a PE ratio of 257.17 and a beta of 1.98. The firm has a fifty day moving average of $52.02 and a 200 day moving average of $41.43.

Insider Buying and Selling

In other news, CFO Mark Lin sold 999 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 directly owned 17,211 shares of the company's stock, valued at $754,530.24. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $85,960.00. Following the completion of the sale, the chief operating officer directly owned 105,996 shares in the company, valued at $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.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Craig Hallum lifted their target price on Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Stifel Nicolaus lifted 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 increased their price objective 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. Benchmark raised their target price on shares of Semtech from $68.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Northland Securities upped their price target on shares of Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.08.

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.