Semtech Corporation (NASDAQ:SMTC) Shares Purchased by Edgestream Partners L.P.

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

Several other hedge funds and other institutional investors also recently bought and sold shares of SMTC. Raymond James Financial Inc. purchased a new stake in Semtech during the 4th quarter valued at $360,000. PNC Financial Services Group Inc. raised its holdings in Semtech by 20.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,609 shares of the semiconductor company's stock valued at $285,000 after buying an additional 768 shares during the period. AlphaQuest LLC raised its holdings in Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock valued at $75,000 after buying an additional 772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Semtech by 22.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,939 shares of the semiconductor company's stock valued at $1,171,000 after buying an additional 3,457 shares during the period. Finally, Swiss National Bank increased its stake in Semtech by 31.4% in the fourth quarter. Swiss National Bank now owns 166,000 shares of the semiconductor company's stock worth $10,267,000 after purchasing an additional 39,700 shares during the period.

Semtech Stock Up 5.4%

SMTC traded up $2.75 on Friday, hitting $53.62. The company had a trading volume of 2,569,691 shares, compared to its average volume of 2,167,145. The stock has a fifty day moving average price of $41.67 and a 200-day moving average price of $43.00. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $79.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.81 and a current ratio of 2.53. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -26.03 and a beta of 1.92.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The company had revenue of $251.10 million for the quarter, compared to analyst estimates of $249.79 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. Analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Insider Activity

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was 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 owned 105,996 shares of the company's stock, valued at approximately $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Lin sold 999 shares of the firm's stock in a transaction dated 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 directly owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMTC. Stifel Nicolaus increased their target price on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Benchmark restated a "buy" rating and set a $68.00 price target on shares of Semtech in a research note on Wednesday, May 28th. UBS Group cut 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. Finally, Morgan Stanley set a $43.00 price target on Semtech in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and an average price target of $59.58.

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.