Nicholas Investment Partners LP Invests $13.67 Million in Semtech Corporation $SMTC

Nicholas Investment Partners LP bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 84,478 shares of the semiconductor company’s stock, valued at approximately $13,673,000. Nicholas Investment Partners LP owned 0.09% of Semtech at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SMTC. Andar Capital Management HK Ltd acquired a new position in Semtech during the second quarter worth $162,000,000. BlackRock Inc. bought a new position in shares of Semtech during the second quarter valued at $1,577,947,000. Think Investments LP acquired a new stake in shares of Semtech in the 3rd quarter valued at $58,618,000. Ameriprise Financial Inc. boosted its stake in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Finally, Atreides Management LP bought a new stake in shares of Semtech in the 2nd quarter worth about $29,880,000.

Semtech Stock Performance

Semtech stock opened at $120.91 on Tuesday. The stock has a 50-day simple moving average of $136.80 and a 200 day simple moving average of $117.89. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 12-month low of $50.42 and a 12-month high of $177.35. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of -310.03 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, research analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Insider Activity

In other Semtech news, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the transaction, the director directly owned 28,100 shares in the company, valued at approximately $4,636,219. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the transaction, the chief executive officer owned 64,799 shares in the company, valued at approximately $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 21,734 shares of company stock worth $3,133,986. Corporate insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Susquehanna increased their target price on shares of Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Oppenheimer set a $200.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. B. Riley Financial raised their price objective on shares of Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Stifel Nicolaus lifted their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.47.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.