PAX Financial Group LLC Lowers Stake in Semtech Corporation (NASDAQ:SMTC)

PAX Financial Group LLC lessened its stake in Semtech Corporation (NASDAQ:SMTC - Free Report) by 29.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,362 shares of the semiconductor company's stock after selling 6,795 shares during the quarter. PAX Financial Group LLC's holdings in Semtech were worth $563,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dunhill Financial LLC acquired a new stake in shares of Semtech in the 4th quarter valued at about $31,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech during the fourth quarter valued at approximately $52,000. NBC Securities Inc. lifted its holdings in Semtech by 104,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock worth $36,000 after buying an additional 1,047 shares during the last quarter. AlphaQuest LLC grew its position in shares of Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after acquiring an additional 772 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Semtech in the 4th quarter valued at approximately $91,000.

Semtech Stock Performance

Shares of Semtech stock traded up $2.16 during trading on Thursday, hitting $50.82. 1,270,056 shares of the stock were exchanged, compared to its average volume of 2,529,799. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $79.52. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -24.67 and a beta of 1.92. The company has a fifty day moving average price of $41.35 and a 200-day moving average price of $43.07. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $251.10 million during 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 revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, equities analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMTC has been the topic of a number of research reports. Morgan Stanley set a $43.00 price target on Semtech in a research report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Benchmark reaffirmed a "buy" rating and issued a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Stifel Nicolaus boosted their target price on shares of Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group dropped their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average price target of $58.58.

Insider Transactions at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 105,996 shares of the company's stock, valued at $4,555,708.08. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $754,530.24. This represents a 5.49% 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.

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.