Archford Capital Strategies LLC Invests $1.06 Million in Semtech Corporation (NASDAQ:SMTC)

Archford Capital Strategies LLC acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,853 shares of the semiconductor company’s stock, valued at approximately $1,061,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in Semtech in the 4th quarter worth approximately $31,000. Dunhill Financial LLC purchased a new position in Semtech in the fourth quarter worth $31,000. NBC Securities Inc. grew its position in Semtech by 104,700.0% in the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 1,047 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 505 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in Semtech in the fourth quarter worth $52,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Semtech from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Morgan Stanley set a $43.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Craig Hallum dropped their price target on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $58.58.

Semtech Stock Performance

Shares of Semtech stock opened at $44.49 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $3.85 billion, a P/E ratio of -21.60 and a beta of 1.88. The business has a fifty day simple moving average of $36.56 and a two-hundred day simple moving average of $44.99. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The business had revenue of $251.10 million during the quarter, compared to analyst estimates of $249.79 million. During the same quarter last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Semtech Company 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.