XTX Topco Ltd Increases Holdings in Semtech Corporation (NASDAQ:SMTC)

XTX Topco Ltd increased its stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 79.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,420 shares of the semiconductor company's stock after buying an additional 6,375 shares during the quarter. XTX Topco Ltd's holdings in Semtech were worth $496,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC purchased a new stake in Semtech in the fourth quarter valued at $31,000. NBC Securities Inc. raised its position in 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 purchasing an additional 1,047 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Semtech in the fourth quarter valued at $52,000. Versant Capital Management Inc raised its position in 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 purchasing an additional 553 shares during the period. Finally, Archer Investment Corp purchased a new stake in Semtech in the first quarter valued at $64,000.

Analysts Set New Price Targets

Several research firms recently issued reports on SMTC. Benchmark reiterated a "buy" rating and issued a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. UBS Group dropped their price objective on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Stifel Nicolaus lifted their price objective on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Morgan Stanley set a $43.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $54.00 price objective 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 given a buy rating to the company's stock. According to MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and an average target price of $59.58.

Insider Activity

In other news, COO Asaf Silberstein sold 2,000 shares of the company's 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 completion of the transaction, the chief operating officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Lin sold 999 shares of the company's 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 transaction, the chief financial officer directly owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Semtech Trading Up 1.0%

SMTC opened at $51.50 on Friday. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -25.00 and a beta of 1.94. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81. The business has a fifty day moving average price of $45.84 and a 200 day moving average price of $41.45.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The business had revenue of $251.10 million during 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%. The business's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts expect that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

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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