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Hussman Strategic Advisors Inc. Buys Shares of 73,500 Semtech Corporation (NASDAQ:SMTC)

Semtech logo with Computer and Technology background

Hussman Strategic Advisors Inc. acquired a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 73,500 shares of the semiconductor company's stock, valued at approximately $2,528,000. Hussman Strategic Advisors Inc. owned 0.08% of Semtech as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SMTC. Raymond James Financial Inc. bought a new position in shares of Semtech in the fourth quarter worth about $360,000. PNC Financial Services Group Inc. lifted its position in shares of Semtech by 20.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,609 shares of the semiconductor company's stock worth $285,000 after buying an additional 768 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after buying an additional 772 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Semtech by 22.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,939 shares of the semiconductor company's stock worth $1,171,000 after buying an additional 3,457 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of 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 buying an additional 39,700 shares in the last quarter.

Semtech Trading Up 1.2%

NASDAQ:SMTC traded up $0.67 during midday trading on Monday, hitting $54.29. The stock had a trading volume of 237,032 shares, compared to its average volume of 2,163,056. Semtech Corporation has a one year low of $24.05 and a one year high of $79.52. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -26.33 and a beta of 1.92. The stock has a 50-day moving average of $42.05 and a 200 day moving average of $42.68. 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 data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $249.79 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Semtech's revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Semtech Corporation will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SMTC. Stifel Nicolaus boosted 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 restated a "buy" rating and set a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Needham & Company LLC restated 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 objective on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Morgan Stanley set a $43.00 price objective on Semtech in a research 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.58.

Get Our Latest Research Report on Semtech

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 999 shares of the stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total value of $85,960.00. Following the sale, the chief operating officer directly owned 105,996 shares in the company, valued at $4,555,708.08. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Semtech Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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