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

Hussman Strategic Advisors Inc. bought a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 73,500 shares of the semiconductor company's stock, valued at approximately $2,528,000. Hussman Strategic Advisors Inc. owned approximately 0.08% of Semtech at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Semtech by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock worth $14,722,000 after acquiring an additional 17,345 shares in the last quarter. Boothbay Fund Management LLC lifted its position in shares of Semtech by 48.9% during the 4th quarter. Boothbay Fund Management LLC now owns 40,663 shares of the semiconductor company's stock worth $2,515,000 after purchasing an additional 13,348 shares during the last quarter. KBC Group NV lifted its position in shares of Semtech by 16.8% during the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock worth $140,000 after purchasing an additional 586 shares during the last quarter. Fortress Investment Group LLC acquired a new position in shares of Semtech during the 4th quarter worth about $1,225,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Semtech by 471.3% during the 4th quarter. BNP Paribas Financial Markets now owns 204,159 shares of the semiconductor company's stock worth $12,627,000 after purchasing an additional 168,426 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SMTC shares. Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Stifel Nicolaus boosted their price objective on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday. Benchmark reaffirmed a "buy" rating and issued a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. Morgan Stanley set a $43.00 target price on Semtech in a report on Wednesday, May 28th. Finally, 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 report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Semtech has an average rating of "Moderate Buy" and a consensus price target of $59.58.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the firm'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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Lin sold 999 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the sale, 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 position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Semtech Trading Up 5.4%

Shares of NASDAQ:SMTC traded up $2.75 during midday trading 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. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -26.03 and a beta of 1.92. The firm has a fifty day simple moving average of $42.05 and a 200 day simple moving average of $42.94.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $251.10 million for the quarter, compared to analyst estimates of $249.79 million. During the same period last year, the company earned $0.06 EPS. The firm's revenue was up 21.8% on a year-over-year basis. On average, analysts predict that Semtech Corporation will post -0.02 EPS for the current year.

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.