Semtech Corporation $SMTC Shares Sold by Archford Capital Strategies LLC

Key Points

• Archford Capital Strategies LLC cut its stake in Semtech by 67.4% in Q4, selling 20,779 shares and leaving it with 10,071 shares valued at about $742,000.
• Several analysts raised price targets (e.g., Craig Hallum to $105 and Oppenheimer to $110), leaving Semtech with a consensus rating of "Moderate Buy" and an average price target of $93.14.
• Company insiders sold a total of 49,377 shares worth roughly $4.06 million over the past 90 days, including COO Asaf Silberstein's sale of 10,000 shares; insiders now own 0.48% of the stock.

Archford Capital Strategies LLC lessened its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 67.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,071 shares of the semiconductor company's stock after selling 20,779 shares during the quarter. Archford Capital Strategies LLC's holdings in Semtech were worth $742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company's stock valued at $526,861,000 after buying an additional 261,647 shares during the period. Capital Research Global Investors grew its stake in Semtech by 13.9% during the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company's stock worth $335,220,000 after purchasing an additional 571,372 shares in the last quarter. State Street Corp increased its holdings in Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company's stock worth $182,235,000 after purchasing an additional 60,788 shares during the period. Alliancebernstein L.P. increased its holdings in Semtech by 8.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company's stock worth $257,770,000 after purchasing an additional 289,313 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in Semtech by 23.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company's stock valued at $241,528,000 after purchasing an additional 633,113 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Craig Hallum lifted their price objective on Semtech from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Morgan Stanley increased their target price on Semtech from $75.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, March 16th. Stifel Nicolaus raised their price target on Semtech from $90.00 to $98.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Oppenheimer raised their target price on Semtech from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings cut Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, March 24th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of "Moderate Buy" and an average price target of $93.14.

Semtech Stock Performance

Shares of SMTC stock opened at $80.04 on Thursday. The stock's 50-day moving average is $83.78 and its two-hundred day moving average is $75.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $96.46. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -181.91 and a beta of 2.05.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $274.40 million during the quarter, compared to analysts' expectations of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The business's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Analysts predict that Semtech Corporation will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Asaf Silberstein sold 10,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $92.00, for a total transaction of $920,000.00. Following the completion of the sale, the chief operating officer owned 68,496 shares in the company, valued at approximately $6,301,632. This represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Michael Wilson sold 5,000 shares of the business's stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $75.12, for a total value of $375,600.00. Following the completion of the transaction, the insider owned 60,066 shares in the company, valued at $4,512,157.92. This trade represents a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 49,377 shares of company stock worth $4,055,452. Corporate insiders own 0.48% of the company's stock.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company's products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech's portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.

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