Moody National Bank Trust Division Invests $243,000 in Semtech Co. (NASDAQ:SMTC)

Moody National Bank Trust Division purchased a new position in Semtech Co. (NASDAQ:SMTC) in the 1st quarter, HoldingsChannel reports. The fund purchased 8,824 shares of the semiconductor company’s stock, valued at approximately $243,000.

Several other large investors have also recently modified their holdings of SMTC. Versant Capital Management Inc raised its position in shares of Semtech by 205.0% in the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,259 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in Semtech in the 4th quarter worth about $63,000. Tower Research Capital LLC TRC raised its position in Semtech by 67.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock worth $102,000 after buying an additional 1,871 shares during the last quarter. Partnership Wealth Management LLC purchased a new position in Semtech in the 4th quarter worth about $141,000. Finally, SG Americas Securities LLC purchased a new position in Semtech in the 4th quarter worth about $164,000.

Insider Activity at Semtech

In related news, CFO Mark Lin acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the purchase, the chief financial officer now owns 1,000 shares in the company, valued at approximately $33,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

Semtech Stock Performance

Shares of NASDAQ:SMTC traded down $1.25 during mid-day trading on Wednesday, reaching $29.50. 1,583,075 shares of the company traded hands, compared to its average volume of 2,464,891. The company’s 50 day moving average price is $36.28 and its 200-day moving average price is $27.09. The firm has a market cap of $1.91 billion, a PE ratio of -1.74 and a beta of 1.63. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.40 and a quick ratio of 1.74. Semtech Co. has a 52 week low of $13.13 and a 52 week high of $46.86.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $192.95 million for the quarter, compared to the consensus estimate of $191.24 million. Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. On average, equities analysts expect that Semtech Co. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

SMTC has been the subject of a number of recent analyst reports. B. Riley boosted their target price on Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Robert W. Baird boosted their target price on Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Needham & Company LLC boosted their target price on Semtech from $38.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Craig Hallum boosted their target price on Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Oppenheimer restated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.90.

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.