Semtech Corporation (NASDAQ:SMTC) Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG has significantly increased its stake in Semtech Corporation by 168.1% during the first quarter, now holding approximately 1.4% of the company valued at $41.6 million.
• Analysts have shown optimism towards Semtech, with multiple firms issuing "buy" ratings and a consensus price target of $59.58.
• Semtech reported earnings of $0.31 EPS for the latest quarter, exceeding expectations and demonstrating a 21.8% revenue growth compared to the same quarter last year.

Deutsche Bank AG raised its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 168.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,210,078 shares of the semiconductor company's stock after acquiring an additional 758,642 shares during the period. Deutsche Bank AG owned approximately 1.40% of Semtech worth $41,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Whale Rock Capital Management LLC raised its stake in Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after buying an additional 2,562,602 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in Semtech in the first quarter valued at about $45,489,000. Alyeska Investment Group L.P. purchased a new stake in Semtech in the fourth quarter valued at about $51,315,000. Fred Alger Management LLC raised its stake in shares of Semtech by 122.6% in the fourth quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company's stock worth $92,271,000 after purchasing an additional 821,671 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Semtech in the fourth quarter worth about $37,110,000.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction 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 sale, the chief operating officer owned 105,996 shares in the company, valued at $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the sale, the chief financial officer owned 17,211 shares in the company, valued at $754,530.24. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Semtech Price Performance

Shares of NASDAQ SMTC traded down $0.69 during midday trading on Friday, hitting $49.83. The stock had a trading volume of 1,198,181 shares, compared to its average volume of 1,677,505. The company has a market capitalization of $4.32 billion, a PE ratio of -24.19 and a beta of 1.94. The stock has a 50 day simple moving average of $47.43 and a 200-day simple moving average of $40.53. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. 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 (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The firm had revenue of $251.10 million for the quarter, compared to the consensus estimate of $249.79 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm's revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts expect 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.