Edgestream Partners L.P. Increases Holdings in Semtech Corporation (NASDAQ:SMTC)

Edgestream Partners L.P. increased its stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 496.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,110 shares of the semiconductor company's stock after buying an additional 54,185 shares during the quarter. Edgestream Partners L.P. owned 0.08% of Semtech worth $2,240,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SMTC. Vanguard Group Inc. grew its position in shares of Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after acquiring an additional 1,326,226 shares during the period. Hood River Capital Management LLC raised its holdings in shares of Semtech by 1.8% in the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company's stock worth $213,385,000 after purchasing an additional 59,743 shares in the last quarter. Whale Rock Capital Management LLC raised its stake 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 buying an additional 2,562,602 shares in the last quarter. Wellington Management Group LLP raised its holdings in Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after buying an additional 1,911,890 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Semtech by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company's stock valued at $112,317,000 after acquiring an additional 197,732 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SMTC shares. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. UBS Group decreased their price target on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus raised their target price on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday. Benchmark reiterated a "buy" rating and set a $68.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Finally, Morgan Stanley set a $43.00 target price on Semtech in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.58.

Semtech Stock Down 1.0%

Shares of SMTC traded down $0.56 during midday trading on Monday, reaching $53.06. 1,225,492 shares of the stock were exchanged, compared to its average volume of 2,166,909. The company's 50 day moving average is $42.05 and its two-hundred day moving average is $42.68. 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 Corporation has a 52 week low of $24.05 and a 52 week high of $79.52. The company has a market capitalization of $4.60 billion, a P/E ratio of -25.76 and a beta of 1.92.

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, topping 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 period in the previous year, the company posted $0.06 earnings per share. On average, sell-side analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other Semtech news, 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 value of $43,796.16. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the company's stock in a transaction 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 transaction, the chief operating officer owned 105,996 shares of the company's stock, valued at $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Semtech 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.