Hussman Strategic Advisors Inc. Invests $2.53 Million in Semtech Corporation (NASDAQ:SMTC)

Hussman Strategic Advisors Inc. acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 73,500 shares of the semiconductor company’s stock, valued at approximately $2,528,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after buying an additional 1,326,226 shares during the period. Hood River Capital Management LLC boosted its position in shares of Semtech by 1.8% in the fourth quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company’s stock worth $213,385,000 after buying an additional 59,743 shares during the period. Whale Rock Capital Management LLC boosted its position in shares of Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after buying an additional 2,562,602 shares during the period. Wellington Management Group LLP boosted its position in shares of Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after buying an additional 1,911,890 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Semtech by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company’s stock worth $112,317,000 after buying an additional 197,732 shares during the period.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 999 shares of Semtech stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the transaction, the chief financial officer directly owned 17,211 shares in the company, valued at approximately $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the completion of the transaction, 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. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several recent research reports. UBS Group cut their price objective on Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, May 5th. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Morgan Stanley set a $43.00 price objective on Semtech in a report on Wednesday, May 28th. 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. Finally, Stifel Nicolaus increased their price objective on Semtech from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $59.58.

Semtech Stock Performance

SMTC stock traded up $2.66 during midday trading on Friday, hitting $53.53. 602,864 shares of the company traded hands, compared to its average volume of 2,156,372. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The business has a 50 day simple moving average of $41.67 and a 200-day simple moving average of $43.00. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -25.92 and a beta of 1.92.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS 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 analyst estimates of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. As a group, equities research analysts predict that Semtech Corporation will post -0.02 earnings per share for the current year.

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.