N.E.W. Advisory Services LLC Buys Shares of 12,146 Semtech Corporation (NASDAQ:SMTC)

N.E.W. Advisory Services LLC bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,146 shares of the semiconductor company's stock, valued at approximately $418,000.

Several other hedge funds have also made changes to their positions in SMTC. Principal Financial Group Inc. increased its holdings in Semtech by 4.2% in the first quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock valued at $14,722,000 after buying an additional 17,345 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in Semtech by 48.9% in the fourth quarter. Boothbay Fund Management LLC now owns 40,663 shares of the semiconductor company's stock valued at $2,515,000 after buying an additional 13,348 shares in the last quarter. KBC Group NV increased its holdings in Semtech by 16.8% in the first 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 in the last quarter. Fortress Investment Group LLC purchased a new position in Semtech in the fourth quarter valued at about $1,225,000. Finally, Moody Aldrich Partners LLC increased its holdings in Semtech by 75.6% in the first quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company's stock valued at $3,402,000 after buying an additional 42,587 shares in the last quarter.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 999 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total value of $43,796.16. Following the sale, the chief financial officer owned 17,211 shares of the company's stock, valued at $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the business's 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 transaction, the chief operating officer owned 105,996 shares in the company, valued at approximately $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SMTC. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 target price on shares of Semtech in a report on Wednesday, May 28th. Stifel Nicolaus increased their target price on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Benchmark reaffirmed a "buy" rating and issued a $68.00 target price on shares of Semtech in a report on Wednesday, May 28th. UBS Group dropped their price objective on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Morgan Stanley set a $43.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Semtech presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.58.

Semtech Stock Down 1.9%

Shares of Semtech stock traded down $0.96 during midday trading on Friday, reaching $50.14. 1,713,001 shares of the company's stock traded hands, compared to its average volume of 2,476,895. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -24.34 and a beta of 1.92. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $79.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.81 and a current ratio of 2.53. The company's 50 day simple moving average is $44.46 and its 200 day simple moving average is $42.15.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. The firm 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 business's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Equities analysts expect that Semtech Corporation will post -0.02 earnings per share 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.