Neuberger Berman Group LLC Raises Stock Holdings in Semtech Corporation (NASDAQ:SMTC)

Neuberger Berman Group LLC boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 0.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,293,264 shares of the semiconductor company’s stock after purchasing an additional 10,291 shares during the quarter. Neuberger Berman Group LLC’s holdings in Semtech were worth $44,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dunhill Financial LLC purchased a new position in shares of Semtech during the 4th quarter valued at approximately $31,000. NBC Securities Inc. increased its stake in shares of Semtech by 104,700.0% in the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company’s stock worth $36,000 after buying an additional 1,047 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech in the fourth quarter valued at $52,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 553 shares in the last quarter. Finally, Archer Investment Corp acquired a new stake in Semtech in the first quarter valued at $64,000.

Insider Buying and Selling

In other news, CFO Mark Lin sold 999 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the sale, the chief financial officer directly owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the sale, the chief operating officer owned 105,996 shares in the company, valued at $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SMTC has been the topic of several recent analyst reports. UBS Group cut their price target 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 upped their price objective on Semtech from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. Finally, Morgan Stanley set a $43.00 price objective on Semtech in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.58.

Semtech Stock Up 1.0%

Shares of Semtech stock opened at $53.24 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The business’s 50 day simple moving average is $46.93 and its 200-day simple moving average is $40.79. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of -25.84 and a beta of 1.94. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. The business had revenue of $251.10 million for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Equities research analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current year.

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.