Catalyst Funds Management Pty Ltd Invests $226,000 in Semtech Corporation $SMTC

Catalyst Funds Management Pty Ltd purchased a new position in Semtech Corporation (NASDAQ:SMTC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,000 shares of the semiconductor company’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently added to or reduced their stakes in SMTC. Nordea Investment Management AB acquired a new position in Semtech during the 2nd quarter worth $4,230,000. Deutsche Bank AG raised its stake in shares of Semtech by 168.1% during the first quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock valued at $41,627,000 after purchasing an additional 758,642 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Semtech by 7.9% in the first 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. EFG Asset Management North America Corp. grew its position in Semtech by 15.6% in the 2nd quarter. EFG Asset Management North America Corp. now owns 94,872 shares of the semiconductor company’s stock valued at $4,282,000 after buying an additional 12,796 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new position in Semtech during the 1st quarter valued at about $6,591,000.

Semtech Price Performance

NASDAQ SMTC opened at $63.85 on Friday. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The stock’s 50-day moving average is $67.03 and its two-hundred day moving average is $53.89. The firm has a market cap of $5.54 billion, a P/E ratio of 266.04 and a beta of 2.03. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78.

Insider Activity at Semtech

In other Semtech news, Director Martin Burvill sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the transaction, the director owned 6,909 shares in the company, valued at $433,539.75. This trade represents a 33.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Lin sold 971 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 17,844 shares of the company’s stock, valued at $1,299,578.52. This trade represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,971 shares of company stock worth $323,463 over the last three months. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna lifted their price target on Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a research report on Tuesday. TD Cowen initiated coverage on shares of Semtech in a research note on Wednesday, October 1st. They set a “buy” rating and a $75.00 target price for the company. Cowen initiated coverage on shares of Semtech in a research note on Tuesday, September 30th. They issued a “buy” rating on the stock. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Stifel Nicolaus set a $80.00 target price on Semtech in a research note on Wednesday, October 1st. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.93.

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.