EFG Asset Management North America Corp. Purchases 12,796 Shares of Semtech Corporation $SMTC

EFG Asset Management North America Corp. boosted its position in Semtech Corporation (NASDAQ:SMTC) by 15.6% during the second quarter, Holdings Channel.com reports. The fund owned 94,872 shares of the semiconductor company’s stock after acquiring an additional 12,796 shares during the period. EFG Asset Management North America Corp.’s holdings in Semtech were worth $4,282,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Semtech by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company’s stock worth $402,560,000 after purchasing an additional 159,770 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Semtech by 15.8% in the 1st quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company’s stock worth $221,737,000 after purchasing an additional 877,422 shares during the period. Wellington Management Group LLP lifted its position in shares of Semtech by 7.9% in the 1st quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company’s stock worth $79,575,000 after purchasing an additional 170,132 shares during the period. Invesco Ltd. lifted its position in shares of Semtech by 74.0% in the 1st quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company’s stock worth $61,926,000 after purchasing an additional 765,558 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Semtech in the 1st quarter worth about $45,489,000.

Insider Buying and Selling at Semtech

In other news, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total value of $33,120.00. Following the completion of the sale, the director directly owned 26,779 shares in the company, valued at $1,773,840.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Lin sold 971 shares of Semtech stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $72.83, for a total transaction of $70,717.93. Following the completion of the sale, the chief financial officer owned 17,844 shares of the company’s stock, valued at $1,299,578.52. This represents a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,971 shares of company stock worth $323,463. 0.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SMTC has been the subject of a number of recent research reports. Oppenheimer raised shares of Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 price target for the company in a research report on Tuesday, September 30th. Stifel Nicolaus set a $80.00 price target on shares of Semtech in a research report on Wednesday, October 1st. UBS Group lifted their price target on shares of Semtech from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Northland Securities lifted their price target on shares of Semtech from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, August 26th. Finally, Cowen assumed coverage on shares of Semtech in a research report on Tuesday, September 30th. They set a “buy” rating for the company. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Semtech Stock Down 4.2%

NASDAQ:SMTC opened at $64.42 on Wednesday. The firm has a market cap of $5.59 billion, a P/E ratio of 268.42 and a beta of 2.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The firm has a 50-day simple moving average of $64.96 and a two-hundred day simple moving average of $50.78.

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.