Bayforest Capital Ltd Increases Stock Holdings in Semtech Corporation (NASDAQ:SMTC)

Bayforest Capital Ltd lifted its position in Semtech Corporation (NASDAQ:SMTC) by 149.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,613 shares of the semiconductor company’s stock after buying an additional 7,562 shares during the quarter. Bayforest Capital Ltd’s holdings in Semtech were worth $434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC purchased a new position in shares of Semtech during the 4th quarter valued at about $31,000. NBC Securities Inc. raised its holdings in shares of Semtech by 104,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 1,047 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Semtech during the 4th quarter valued at $52,000. Versant Capital Management Inc grew its holdings in shares of Semtech by 58.5% during the 1st quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 553 shares during the last quarter. Finally, Archer Investment Corp bought a new position in shares of Semtech during the 1st quarter valued at $64,000.

Insider Activity at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total value of $85,960.00. Following the transaction, the chief operating officer owned 105,996 shares in the company, valued at approximately $4,555,708.08. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 999 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the transaction, the chief financial officer owned 17,211 shares of the company’s stock, valued at $754,530.24. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

SMTC has been the subject of several analyst reports. Morgan Stanley set a $43.00 target price on Semtech in a report on Wednesday, May 28th. Stifel Nicolaus upped their price target on shares of Semtech from $45.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 18th. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Finally, UBS Group reduced their price target on Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.58.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $53.71 on Thursday. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of -26.07 and a beta of 1.92. The company has a 50 day simple moving average of $44.19 and a two-hundred day simple moving average of $42.25. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.81 and a current ratio of 2.53.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The firm had revenue of $251.10 million for the quarter, compared to analysts’ expectations of $249.79 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts expect that Semtech Corporation will post -0.02 EPS for the current fiscal year.

About Semtech

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.