Archford Capital Strategies LLC Lowers Holdings in Semtech Corporation $SMTC

Archford Capital Strategies LLC reduced its position in Semtech Corporation (NASDAQ:SMTC) by 67.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,071 shares of the semiconductor company’s stock after selling 20,779 shares during the quarter. Archford Capital Strategies LLC’s holdings in Semtech were worth $742,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SMTC. Ameriprise Financial Inc. increased its stake in shares of Semtech by 3.7% during the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after acquiring an additional 261,647 shares during the period. Capital Research Global Investors boosted its holdings in Semtech by 13.9% in the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after purchasing an additional 571,372 shares in the last quarter. State Street Corp boosted its holdings in Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after purchasing an additional 60,788 shares in the last quarter. Alliancebernstein L.P. increased its position in Semtech by 8.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after purchasing an additional 289,313 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Semtech by 23.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock valued at $241,528,000 after buying an additional 633,113 shares during the period.

Insider Activity

In other Semtech news, COO Asaf Silberstein sold 10,000 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the completion of the transaction, the chief operating officer owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. This trade represents a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 9,186 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $75.05, for a total value of $689,409.30. Following the completion of the transaction, the chief financial officer directly owned 32,710 shares of the company’s stock, valued at approximately $2,454,885.50. This trade represents a 21.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 49,377 shares of company stock worth $4,055,452. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SMTC shares. Craig Hallum raised their target price on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Weiss Ratings cut shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, March 24th. Oppenheimer raised their price objective on shares of Semtech from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Susquehanna upped their target price on shares of Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Finally, Morgan Stanley lifted their price target on shares of Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Semtech Price Performance

Semtech stock opened at $80.04 on Thursday. The firm has a market capitalization of $7.44 billion, a PE ratio of -181.91 and a beta of 2.05. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $96.46. The firm’s 50-day simple moving average is $83.78 and its 200 day simple moving average is $75.35. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $273.14 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.

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.