Guggenheim Capital LLC grew its stake in shares of Semtech Co. (NASDAQ:SMTC – Free Report) by 58.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,520 shares of the semiconductor company’s stock after purchasing an additional 9,792 shares during the period. Guggenheim Capital LLC’s holdings in Semtech were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in SMTC. Neo Ivy Capital Management acquired a new position in Semtech during the 2nd quarter worth approximately $41,000. Cerity Partners LLC bought a new stake in shares of Semtech during the first quarter valued at approximately $2,312,000. Captrust Financial Advisors raised its position in shares of Semtech by 186.5% during the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 664 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Semtech in the 1st quarter worth $84,000. Finally, Covestor Ltd grew its position in Semtech by 123.9% in the 1st quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 773 shares during the period.
Insider Activity at Semtech
In other Semtech news, SVP Michael W. Rodensky sold 18,227 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $25.50, for a total value of $464,788.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Semtech news, SVP Michael W. Rodensky sold 18,227 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $25.50, for a total transaction of $464,788.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul V. Walsh, Jr. bought 20,000 shares of Semtech stock in a transaction dated Monday, September 18th. The stock was acquired at an average price of $24.83 per share, with a total value of $496,600.00. Following the purchase, the director now directly owns 20,888 shares of the company’s stock, valued at $518,649.04. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.
Semtech Trading Up 16.3 %
NASDAQ SMTC opened at $19.42 on Friday. The business’s fifty day moving average is $17.68 and its 200-day moving average is $22.58. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.96 and a quick ratio of 1.40. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.83 and a beta of 1.72. Semtech Co. has a one year low of $13.13 and a one year high of $35.18.
Semtech (NASDAQ:SMTC – Get Free Report) last announced its quarterly earnings data on Wednesday, December 6th. The semiconductor company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.17. Semtech had a negative net margin of 53.62% and a positive return on equity of 2.94%. The business had revenue of $200.90 million for the quarter, compared to analyst estimates of $200.55 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts predict that Semtech Co. will post -0.71 EPS for the current year.
Analyst Ratings Changes
Several research firms have weighed in on SMTC. Summit Insights upgraded shares of Semtech from a “hold” rating to a “buy” rating in a report on Thursday, September 14th. Stifel Nicolaus dropped their price target on shares of Semtech from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday. TheStreet lowered Semtech from a “c-” rating to a “d” rating in a report on Thursday, September 14th. Benchmark raised Semtech from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Thursday, October 19th. Finally, Craig Hallum cut their target price on Semtech from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.20.
View Our Latest Stock Analysis on SMTC
Semtech Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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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