Stratos Wealth Partners LTD. Invests $323,000 in Semtech Corporation $SMTC

Stratos Wealth Partners LTD. bought a new position in Semtech Corporation (NASDAQ:SMTC) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 7,164 shares of the semiconductor company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB purchased a new position in Semtech during the 2nd quarter valued at $4,230,000. WCM Investment Management LLC boosted its holdings in Semtech by 109.6% during the 2nd quarter. WCM Investment Management LLC now owns 514,307 shares of the semiconductor company’s stock valued at $23,098,000 after acquiring an additional 268,886 shares during the period. Yousif Capital Management LLC boosted its holdings in Semtech by 2.8% during the 2nd quarter. Yousif Capital Management LLC now owns 32,475 shares of the semiconductor company’s stock valued at $1,466,000 after acquiring an additional 894 shares during the period. Inspire Investing LLC boosted its holdings in Semtech by 47.4% during the 2nd quarter. Inspire Investing LLC now owns 31,634 shares of the semiconductor company’s stock valued at $1,428,000 after acquiring an additional 10,174 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in Semtech by 1.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 25,457 shares of the semiconductor company’s stock valued at $1,149,000 after acquiring an additional 356 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Craig Hallum boosted their price objective on Semtech from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Oppenheimer upgraded Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 price objective for the company in a report on Tuesday, September 30th. Northland Securities boosted their price objective on Semtech from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, August 26th. TD Cowen assumed coverage on Semtech in a report on Wednesday, October 1st. They set a “buy” rating and a $75.00 price objective for the company. Finally, Piper Sandler lifted their target price on Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.36.

Semtech Trading Down 1.3%

Shares of NASDAQ SMTC opened at $67.79 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $62.55 and a two-hundred day simple moving average of $48.31. The firm has a market cap of $5.88 billion, a PE ratio of 282.46 and a beta of 2.01. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52.

Insider Transactions at Semtech

In other news, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the transaction, the director directly owned 6,909 shares of the company’s stock, valued at approximately $433,539.75. The trade was a 33.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 971 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $72.83, for a total value of $70,717.93. Following the completion of the transaction, the chief financial officer directly owned 17,844 shares of the company’s stock, valued at approximately $1,299,578.52. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,971 shares of company stock valued at $323,463. Corporate insiders own 0.48% of the company’s stock.

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.