Dynamic Technology Lab Private Ltd Has $1.82 Million Stock Position in Semtech Corporation $SMTC

Dynamic Technology Lab Private Ltd increased its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 146.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,751 shares of the semiconductor company’s stock after buying an additional 31,320 shares during the quarter. Dynamic Technology Lab Private Ltd owned 0.06% of Semtech worth $1,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. Whale Rock Capital Management LLC lifted its holdings in shares of Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after acquiring an additional 2,562,602 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Semtech during the 1st quarter worth approximately $45,489,000. Ameriprise Financial Inc. increased its position in Semtech by 15.8% during 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 in the last quarter. Nuveen LLC bought a new position in Semtech in the 1st quarter valued at approximately $27,940,000. Finally, Invesco Ltd. boosted its position in Semtech by 74.0% in the first quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company’s stock valued at $61,926,000 after buying an additional 765,558 shares in the last quarter.

Semtech Trading Up 1.3%

NASDAQ SMTC opened at $60.67 on Friday. The firm has a market capitalization of $5.26 billion, a PE ratio of 252.79 and a beta of 1.98. The business’s 50-day moving average price is $51.35 and its two-hundred day moving average price is $41.11. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52.

Analyst Ratings Changes

Several research analysts have recently issued reports on SMTC shares. Needham & Company LLC upped their price target on shares of Semtech from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Northland Securities upped their target price on Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Stifel Nicolaus increased their target price on Semtech from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Morgan Stanley set a $43.00 price target on Semtech in a report on Wednesday, May 28th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Semtech in a report on Tuesday, August 26th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 999 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total transaction of $43,796.16. Following the completion of the sale, the chief financial officer owned 17,211 shares of the company’s stock, valued at approximately $754,530.24. This represents a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the transaction, the chief operating officer owned 105,996 shares in the company, valued at $4,555,708.08. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

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.