Moody Aldrich Partners LLC Purchases 42,587 Shares of Semtech Corporation (NASDAQ:SMTC)

Moody Aldrich Partners LLC raised its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 75.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,904 shares of the semiconductor company's stock after acquiring an additional 42,587 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.11% of Semtech worth $3,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SMTC. Whale Rock Capital Management LLC lifted its stake in 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 purchasing an additional 2,562,602 shares during the last quarter. Wellington Management Group LLP raised its stake in Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock valued at $132,550,000 after buying an additional 1,911,890 shares during the period. Vanguard Group Inc. lifted its position in shares of Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after buying an additional 1,326,226 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Semtech during the 4th quarter worth approximately $51,315,000. Finally, Fred Alger Management LLC boosted its stake in shares of Semtech by 122.6% during the 4th quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company's stock worth $92,271,000 after acquiring an additional 821,671 shares during the period.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $44.85 on Friday. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $79.52. The company's 50 day moving average price is $38.76 and its two-hundred day moving average price is $44.14. The firm has a market cap of $3.89 billion, a PE ratio of -21.77 and a beta of 1.92. 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 issued 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. 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 during the quarter, compared to analysts' expectations of $249.79 million. During the same period in the previous year, the company posted $0.06 earnings per share. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts predict that Semtech Corporation will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Asaf Silberstein sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 105,996 shares in the company, valued at approximately $4,555,708.08. The trade was a 1.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 999 shares of the stock in a transaction that occurred 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 in the company, valued at $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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SMTC. UBS Group dropped 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. Benchmark restated a "buy" rating and set a $68.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Stifel Nicolaus lifted their target price on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Craig Hallum lowered their price target on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Morgan Stanley set a $43.00 price objective on Semtech in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.58.

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.

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