Versor Investments LP Acquires 13,866 Shares of Semtech Corporation $SMTC

Key Points

• Versor Investments LP significantly increased its stake in Semtech Corporation by 123.4%, acquiring an additional 13,866 shares in the first quarter, bringing its total holdings to 25,100 shares valued at approximately $863,000.
• Semtech reported a 21.8% year-over-year revenue increase, achieving $251.10 million for the quarter, along with earnings per share of $0.31, exceeding analysts' expectations of $0.21.
• Several institutional investors, including Deutsche Bank AG and Principal Financial Group Inc., have also increased their investments in Semtech, highlighting a growing interest in the semiconductor company's stock.

Versor Investments LP raised its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 123.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,100 shares of the semiconductor company's stock after purchasing an additional 13,866 shares during the quarter. Versor Investments LP's holdings in Semtech were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Semtech by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock valued at $14,722,000 after purchasing an additional 17,345 shares during the period. Deutsche Bank AG grew its stake in Semtech by 168.1% in the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company's stock valued at $41,627,000 after purchasing an additional 758,642 shares during the period. Boothbay Fund Management LLC grew its stake in Semtech by 48.9% in the 4th quarter. Boothbay Fund Management LLC now owns 40,663 shares of the semiconductor company's stock valued at $2,515,000 after purchasing an additional 13,348 shares during the period. KBC Group NV grew its stake in Semtech by 16.8% in the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock valued at $140,000 after purchasing an additional 586 shares during the period. Finally, Fortress Investment Group LLC bought a new position in shares of Semtech during the 4th quarter worth $1,225,000.

Semtech Stock Performance

NASDAQ:SMTC opened at $50.42 on Tuesday. The business's 50-day moving average price is $47.61 and its two-hundred day moving average price is $40.22. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52. The stock has a market cap of $4.37 billion, a P/E ratio of -24.48 and a beta of 1.94. 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. The company had revenue of $251.10 million for 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 for the quarter was up 21.8% compared to the same quarter last year. During the same period last 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.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 999 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the transaction, the chief financial officer directly owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This trade represents a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total value of $85,960.00. Following the transaction, the chief operating officer directly owned 105,996 shares in the company, valued at approximately $4,555,708.08. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

SMTC has been the subject of several research reports. Morgan Stanley set a $43.00 price target on Semtech in a research note on Wednesday, May 28th. Benchmark reiterated a "buy" rating and set a $68.00 price target on shares of Semtech in a research note on Wednesday, May 28th. UBS Group cut their price target 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 increased 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 reiterated a "buy" rating and set a $54.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.58.

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.

Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Corporation (NASDAQ:SMTC - Free Report).

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.