Semtech Co. (NASDAQ:SMTC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Semtech Co. (NASDAQ:SMTC) by 83.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,694 shares of the semiconductor company’s stock after acquiring an additional 773 shares during the quarter. GAMMA Investing LLC’s holdings in Semtech were worth $47,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Semtech by 205.0% during the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period. Cape Investment Advisory Inc. acquired a new stake in Semtech during the 4th quarter valued at approximately $63,000. Tower Research Capital LLC TRC boosted its holdings in shares of Semtech by 67.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 1,871 shares during the last quarter. Partnership Wealth Management LLC acquired a new stake in shares of Semtech in the fourth quarter worth $141,000. Finally, SG Americas Securities LLC purchased a new position in shares of Semtech during the fourth quarter worth $164,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SMTC. B. Riley increased their price target on Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Susquehanna lifted their price target on Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, June 6th. Northland Securities upped their price objective on Semtech from $36.50 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Needham & Company LLC lifted their target price on shares of Semtech from $38.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Robert W. Baird increased their price target on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

Semtech Price Performance

SMTC stock opened at $29.34 on Tuesday. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $46.86. The business’s 50-day moving average is $35.98 and its 200 day moving average is $27.43. The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 4.11.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The firm had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. As a group, equities analysts expect that Semtech Co. will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin purchased 1,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $33,230. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

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.