Fox Run Management L.L.C. Takes Position in Semtech Corporation $SMTC

Key Points

• Fox Run Management L.L.C. acquired a new stake in Semtech Corporation valued at approximately $424,000, purchasing 12,319 shares in the first quarter.
• Analysts maintain a generally positive outlook on Semtech, with a consensus rating of "Moderate Buy" and an average target price of $59.58, alongside multiple firms issuing buy ratings.
• Insider transactions show COO Asaf Silberstein and CFO Mark Lin selling shares, indicating a decrease in their ownership percentages after their respective sales.

Fox Run Management L.L.C. bought a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,319 shares of the semiconductor company's stock, valued at approximately $424,000.

A number of other institutional investors have also modified their holdings of the business. Dunhill Financial LLC acquired a new position in shares of Semtech in the 4th quarter valued at $31,000. Versant Capital Management Inc grew its position in 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 last quarter. Mariner LLC grew its position in Semtech by 3.3% in the 4th quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock valued at $1,122,000 after buying an additional 582 shares during the last quarter. KBC Group NV grew its position in Semtech by 16.8% in the 1st 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. Finally, Cetera Investment Advisers grew its position in 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 buying an additional 599 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SMTC. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. UBS Group lowered their price objective on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. 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 report on Friday, July 18th. Benchmark reiterated a "buy" rating and issued a $68.00 price objective 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 report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Semtech presently has a consensus rating of "Moderate Buy" and an average target price of $59.58.

Insider Buying and Selling

In other news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated 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. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Lin sold 999 shares of Semtech stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the sale, the chief financial officer owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This trade 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 corporate insiders.

Semtech Price Performance

Semtech stock opened at $50.42 on Tuesday. The firm has a market capitalization of $4.37 billion, a PE ratio of -24.48 and a beta of 1.94. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $79.52. The firm's 50-day simple moving average is $47.61 and its 200 day simple moving average is $40.22. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly 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. The company had revenue of $251.10 million for the quarter, compared to the consensus estimate of $249.79 million. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.

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.

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