Royce & Associates LP Boosts Position in Semtech Corporation (NASDAQ:SMTC)

Royce & Associates LP increased its holdings in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,519 shares of the semiconductor company's stock after purchasing an additional 6,019 shares during the quarter. Royce & Associates LP owned approximately 0.09% of Semtech worth $2,632,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Semtech in the fourth quarter valued at approximately $360,000. Commonwealth Equity Services LLC lifted its stake in Semtech by 42.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,468 shares of the semiconductor company's stock valued at $524,000 after buying an additional 2,533 shares during the last quarter. Sei Investments Co. lifted its stake in Semtech by 23.1% in the fourth quarter. Sei Investments Co. now owns 194,544 shares of the semiconductor company's stock valued at $12,033,000 after buying an additional 36,558 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Semtech in the fourth quarter valued at approximately $1,058,000. Finally, LPL Financial LLC lifted its stake in Semtech by 18.3% in the fourth quarter. LPL Financial LLC now owns 19,154 shares of the semiconductor company's stock valued at $1,185,000 after buying an additional 2,965 shares during the last quarter.

Insider Buying and Selling at Semtech

In other Semtech news, 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 value of $43,796.16. Following the completion of the transaction, the chief financial officer owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction 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 owned 105,996 shares of the company's stock, valued at approximately $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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $43.00 price objective on Semtech in a research note on Wednesday, May 28th. Benchmark reiterated a "buy" rating and issued a $68.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. UBS Group reduced their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Stifel Nicolaus upped their price target on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.58.

Semtech Trading Up 1.0%

NASDAQ:SMTC opened at $53.07 on Monday. The stock has a fifty day moving average price of $43.33 and a two-hundred day moving average price of $42.17. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -25.76 and a beta of 1.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.81 and a current ratio of 2.53. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The firm had revenue of $251.10 million during the quarter, compared to analysts' expectations of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. Semtech's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. As a group, sell-side analysts anticipate that Semtech Corporation will post -0.02 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.