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

Moody Aldrich Partners LLC lifted its holdings in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 75.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 0.11% of Semtech worth $3,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SMTC. Oppenheimer & Co. Inc. acquired a new position in shares of Semtech during the 4th quarter valued at $255,000. Mutual of America Capital Management LLC lifted its holdings in Semtech by 13.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 12,778 shares of the semiconductor company's stock worth $790,000 after buying an additional 1,493 shares in the last quarter. US Bancorp DE lifted its holdings in Semtech by 129.0% in the 4th quarter. US Bancorp DE now owns 10,350 shares of the semiconductor company's stock worth $640,000 after buying an additional 5,830 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after buying an additional 505 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Semtech by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company's stock worth $65,677,000 after buying an additional 3,991 shares in the last quarter.

Insider Activity at Semtech

In other news, 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 transaction of $85,960.00. Following the transaction, the chief operating officer owned 105,996 shares in the company, valued at $4,555,708.08. This represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief financial officer owned 17,211 shares in the company, valued at approximately $754,530.24. This trade 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 corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SMTC shares. UBS Group dropped their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Craig Hallum dropped their target price on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Needham & Company LLC reaffirmed 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 shares of Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley set a $43.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.58.

Semtech Trading Down 5.0%

Shares of SMTC stock traded down $2.24 during trading hours on Monday, reaching $42.60. 1,523,784 shares of the stock traded hands, compared to its average volume of 2,142,717. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $79.52. The business has a fifty day moving average price of $39.06 and a 200 day moving average price of $43.73. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $3.69 billion, a PE ratio of -20.68 and a beta of 1.92.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The business 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 business earned $0.06 earnings per share. The firm's revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts forecast 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.