Semtech Co. (NASDAQ:SMTC) Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division boosted its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 147.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,955 shares of the semiconductor company's stock after buying an additional 30,387 shares during the quarter. Moody National Bank Trust Division owned 0.06% of Semtech worth $1,753,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SMTC. Principal Financial Group Inc. grew its stake in shares of Semtech by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company's stock worth $25,396,000 after purchasing an additional 56,108 shares during the period. Rhumbline Advisers grew its stake in shares of Semtech by 6.1% during the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock worth $12,702,000 after purchasing an additional 11,878 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Semtech during the 4th quarter worth approximately $2,680,000. Stephens Inc. AR acquired a new stake in shares of Semtech during the 4th quarter worth approximately $889,000. Finally, Essential Planning LLC. acquired a new stake in shares of Semtech during the 4th quarter worth approximately $1,069,000.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of research analyst reports. Robert W. Baird dropped their price target on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Benchmark reissued a "buy" rating and issued a $68.00 price target on shares of Semtech in a research note on Wednesday. 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. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price target on shares of Semtech in a research note on Wednesday. Finally, Stifel Nicolaus lifted their price target 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and a consensus price target of $58.58.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the sale, the chief financial officer now directly owns 13,481 shares in the company, valued at approximately $508,368.51. The trade was a 17.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company's stock.

Semtech Trading Up 3.2%

SMTC traded up $1.16 on Friday, hitting $36.92. 3,323,132 shares of the company's stock were exchanged, compared to its average volume of 2,189,012. Semtech Co. has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The firm has a 50-day moving average price of $32.89 and a 200-day moving average price of $46.99. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -2.83, a P/E/G ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The firm's revenue was up 30.1% on a year-over-year basis. On average, equities analysts predict that Semtech Co. 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.