Woodline Partners LP Purchases Shares of 482,419 Semtech Corporation $SMTC

Key Points

• Woodline Partners LP has acquired a new stake in Semtech Corporation by purchasing 482,419 shares valued at approximately $16.6 million, which represents about 0.56% of the company.
• Multiple large investors have also increased their positions in Semtech, with NBC Securities Inc. raising its stake dramatically by over 104,700%.
• Semtech has received positive updates from several research analysts, with price targets raised by firms like Stifel Nicolaus and Craig Hallum, indicating a consensus of a "buy" rating among eleven analysts.

Woodline Partners LP bought a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 482,419 shares of the semiconductor company's stock, valued at approximately $16,595,000. Woodline Partners LP owned approximately 0.56% of Semtech as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Semtech by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock worth $36,000 after buying an additional 257 shares in the last quarter. Versant Capital Management Inc raised its stake in Semtech by 58.5% during the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 553 shares in the last quarter. KBC Group NV raised its stake in Semtech by 16.8% during the first 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 in the last quarter. Cetera Investment Advisers raised its stake in Semtech by 12.9% during the fourth quarter. Cetera Investment Advisers now owns 5,226 shares of the semiconductor company's stock valued at $323,000 after purchasing an additional 599 shares in the last quarter. Finally, CWM LLC raised its stake in Semtech by 23.3% during the first quarter. CWM LLC now owns 3,751 shares of the semiconductor company's stock valued at $129,000 after purchasing an additional 709 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SMTC. Morgan Stanley set a $43.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Piper Sandler upped their price target on shares of Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Needham & Company LLC upped their price target on shares of Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Benchmark upped their price target on shares of Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Finally, Stifel Nicolaus upped their price target on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.08.

Insider Activity

In other Semtech news, CFO Mark Lin sold 999 shares of the stock in a transaction dated Tuesday, July 1st. The shares were 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 in the company, valued at $754,530.24. This represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the transaction, the chief operating officer owned 105,996 shares in the company, valued at approximately $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Semtech Stock Down 0.4%

Semtech stock traded down $0.23 during midday trading on Tuesday, hitting $62.40. 300,244 shares of the company's stock were exchanged, compared to its average volume of 2,362,274. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The firm has a 50-day moving average of $53.40 and a two-hundred day moving average of $42.14. The company has a market cap of $5.41 billion, a PE ratio of 259.87 and a beta of 1.98.

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.