Optimist Retirement Group LLC Buys New Shares in Semtech Corporation (NASDAQ:SMTC)

Optimist Retirement Group LLC purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,299 shares of the semiconductor company's stock, valued at approximately $251,000.

Several other large investors have also modified their holdings of SMTC. Dunhill Financial LLC bought a new position in Semtech in the fourth quarter valued at approximately $31,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Semtech in the fourth quarter valued at about $52,000. NBC Securities Inc. lifted its position in Semtech by 104,700.0% during the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 1,047 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Semtech during the fourth quarter worth about $91,000. Finally, Versant Capital Management Inc increased its stake in shares of Semtech by 58.5% in the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after buying an additional 553 shares during the period.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley set a $43.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. UBS Group lowered their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus lifted their target price on Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Benchmark reissued a "buy" rating and set a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.58.

Insider Activity

In related news, CFO Mark Lin sold 999 shares of the firm's stock in a transaction dated 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 directly owned 17,211 shares of the company's stock, valued at $754,530.24. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Semtech Price Performance

NASDAQ SMTC traded up $0.97 during trading hours on Wednesday, reaching $52.44. The company's stock had a trading volume of 533,828 shares, compared to its average volume of 2,160,822. The firm's 50-day moving average price is $42.58 and its 200-day moving average price is $42.65. 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 Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -25.45 and a beta of 1.92.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share for the quarter, beating 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 positive return on equity of 19.66% and a negative net margin of 12.52%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. On average, equities research analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal 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.