65,000 Shares in Semtech Co. (NASDAQ:SMTC) Bought by King Luther Capital Management Corp

King Luther Capital Management Corp acquired a new stake in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 65,000 shares of the semiconductor company’s stock, valued at approximately $1,424,000.

Several other institutional investors have also added to or reduced their stakes in SMTC. Dynamic Technology Lab Private Ltd bought a new position in shares of Semtech in the 4th quarter worth approximately $287,000. Partnership Wealth Management LLC bought a new position in Semtech in the fourth quarter worth $141,000. Principal Financial Group Inc. lifted its position in Semtech by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 396,224 shares of the semiconductor company’s stock valued at $8,681,000 after buying an additional 5,954 shares during the period. Jump Financial LLC bought a new stake in shares of Semtech during the 4th quarter valued at $1,323,000. Finally, BNP Paribas Financial Markets grew its position in shares of Semtech by 42.2% in the 4th quarter. BNP Paribas Financial Markets now owns 563,560 shares of the semiconductor company’s stock worth $12,348,000 after buying an additional 167,376 shares during the period.

Semtech Price Performance

NASDAQ:SMTC traded up $1.17 during mid-day trading on Friday, reaching $40.55. The company’s stock had a trading volume of 105,317 shares, compared to its average volume of 1,872,315. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79. The firm’s fifty day moving average price is $33.36 and its two-hundred day moving average price is $24.46. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $41.62.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. The company had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. As a group, research analysts expect that Semtech Co. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on SMTC shares. Susquehanna lifted their price target on shares of Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, April 1st. Stifel Nicolaus boosted their price target on Semtech from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Robert W. Baird upped their price target on Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. Finally, Northland Securities increased their target price on Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.35.

Insider Transactions at Semtech

In other news, CFO Mark Lin acquired 1,000 shares of Semtech stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at $33,230. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% 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.