Woodline Partners LP Takes Position in 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 acquired a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 SEC filing.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. lifted its position in shares of Semtech by 104,700.0% in the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 1,047 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 valued at $36,000 after acquiring an additional 257 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Semtech by 58.5% in the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 553 shares in the last quarter. Archer Investment Corp purchased a new position in shares of Semtech in the first quarter valued at about $64,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 2,565 shares in the last quarter.

Semtech Trading Up 0.2%

SMTC opened at $61.72 on Thursday. The firm has a market cap of $5.36 billion, a P/E ratio of 257.17 and a beta of 1.98. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average of $52.37 and a 200 day moving average of $41.57.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Craig Hallum raised their price objective on Semtech from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Needham & Company LLC raised their price objective on Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Piper Sandler raised their price objective on Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, Northland Securities raised their price objective on Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.08.

Insider Activity

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

About Semtech

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.

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