Artisan Partners Limited Partnership Makes New Investment in Semtech Corporation $SMTC

Artisan Partners Limited Partnership purchased a new stake in Semtech Corporation (NASDAQ:SMTC) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 317,658 shares of the semiconductor company’s stock, valued at approximately $22,697,000.

Several other hedge funds have also made changes to their positions in SMTC. AlphaQuest LLC increased its stake in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 173 shares during the last quarter. Archer Investment Corp grew its holdings in Semtech by 10.8% in the second quarter. Archer Investment Corp now owns 2,050 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 200 shares during the period. Amalgamated Bank increased its position in Semtech by 0.9% during the second quarter. Amalgamated Bank now owns 24,229 shares of the semiconductor company’s stock worth $1,094,000 after purchasing an additional 214 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 235 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Semtech by 24.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 247 shares during the period.

Insider Activity at Semtech

In other Semtech news, Director Gregory Michael Fischer sold 1,034 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $75.50, for a total value of $78,067.00. Following the completion of the transaction, the director directly owned 2,857 shares of the company’s stock, valued at $215,703.50. This represents a 26.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Michael Wilson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $75.12, for a total value of $375,600.00. Following the sale, the insider owned 60,066 shares of the company’s stock, valued at $4,512,157.92. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,967 shares of company stock valued at $2,236,108. 0.48% of the stock is currently owned by corporate insiders.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $90.22 on Friday. The business’s 50-day simple moving average is $81.28 and its 200 day simple moving average is $71.25. The company has a market cap of $8.35 billion, a P/E ratio of 291.03 and a beta of 2.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. Semtech Corporation has a one year low of $24.05 and a one year high of $93.96.

Analysts Set New Price Targets

SMTC has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. Oppenheimer reissued an “outperform” rating and set a $81.00 price target on shares of Semtech in a research report on Tuesday, November 25th. TD Cowen restated a “buy” rating on shares of Semtech in a research note on Tuesday. Wall Street Zen lowered Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Finally, Morgan Stanley set a $67.00 target price on Semtech in a report on Tuesday, November 25th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.21.

Semtech Profile

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.