Y Intercept Hong Kong Ltd Increases Stake in Semtech Corporation (NASDAQ:SMTC)

Key Points

• Y Intercept Hong Kong Ltd has significantly increased its stake in Semtech Corporation by 76.3%, owning 17,402 shares valued at $599,000 after purchasing an additional 7,532 shares in the first quarter.
• Despite the recent uptick in holdings from various hedge funds, company insiders including the CFO and COO have sold portions of their shares, indicating potential liquidity or portfolio adjustments.
• Semtech's quarterly earnings exceeded analyst expectations with an EPS of $0.31 and revenue of $251.10 million, reflecting a 21.8% increase compared to the same quarter last year.

Y Intercept Hong Kong Ltd increased its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 76.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,402 shares of the semiconductor company's stock after buying an additional 7,532 shares during the period. Y Intercept Hong Kong Ltd's holdings in Semtech were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in Semtech by 27.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after purchasing an additional 337 shares during the period. Dunhill Financial LLC purchased a new stake in shares of Semtech during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in shares of 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 buying an additional 553 shares during the last quarter. Mariner LLC grew its holdings in shares of Semtech by 3.3% during the fourth quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock valued at $1,122,000 after buying an additional 582 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of 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 buying an additional 586 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Mark Lin sold 999 shares of Semtech stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the sale, the chief operating officer owned 105,996 shares of the company's stock, valued at approximately $4,555,708.08. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Semtech Stock Performance

NASDAQ:SMTC traded up $1.09 during trading hours on Monday, hitting $54.16. 1,398,935 shares of the company were exchanged, compared to its average volume of 1,909,656. The company's 50 day moving average price is $43.61 and its 200-day moving average price is $42.09. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -26.29 and a beta of 1.92. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The business had revenue of $251.10 million during the quarter, compared to analysts' expectations of $249.79 million. During the same period in the prior year, the business earned $0.06 earnings per share. The company's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SMTC has been the topic of a number of recent analyst reports. Morgan Stanley set a $43.00 price target on shares of Semtech in a report on Wednesday, May 28th. Benchmark reiterated a "buy" rating and issued a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. UBS Group reduced their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus lifted their price target on shares of 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 objective on shares of Semtech in a report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average target price 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.