Martin Burvill Sells 3,500 Shares of Semtech (NASDAQ:SMTC) Stock

Key Points

• Semtech (NASDAQ:SMTC) Director Martin Burvill sold 3,500 shares at an average price of $62.75, totaling $219,625, resulting in a 33.62% decrease in his ownership.
• Hedge fund activity increased, with significant investments from firms like Bessemer Group and NBC Securities, indicating growing interest in Semtech stock.
• Research analysts have raised their price targets on Semtech, with Benchmark increasing its target from $68.00 to $76.00 and a consensus rating of "Moderate Buy."

Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Martin Burvill sold 3,500 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the transaction, the director owned 6,909 shares in the company, valued at approximately $433,539.75. The trade was a 33.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Semtech Stock Down 0.5%

SMTC traded down $0.28 during trading on Friday, hitting $60.87. 2,617,327 shares of the company's stock traded hands, compared to its average volume of 2,029,290. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 253.63 and a beta of 1.98. The company's 50 day simple moving average is $54.53 and its two-hundred day simple moving average is $42.77. 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. increased its position in Semtech by 78.4% in the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 287 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Semtech in the second quarter worth about $33,000. NBC Securities Inc. lifted its stake in shares of Semtech by 104,700.0% in the 1st 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 last quarter. Smartleaf Asset Management LLC increased its position in shares of Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 257 shares during the last quarter. Finally, Versant Capital Management Inc lifted 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 worth $52,000 after buying an additional 553 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Craig Hallum raised their target price on shares of Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Northland Securities increased their target price on Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a report 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 report on Tuesday, September 9th. Piper Sandler upped their target price on shares of Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Finally, Stifel Nicolaus upped their price objective on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.08.

Semtech Company 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.