Argos Wealth Advisors LLC Makes New Investment in Semtech Corporation $SMTC

Argos Wealth Advisors LLC bought a new stake in Semtech Corporation (NASDAQ:SMTC) during the fourth quarter, HoldingsChannel reports. The firm bought 8,682 shares of the semiconductor company’s stock, valued at approximately $640,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMTC. Jones Financial Companies Lllp raised its stake in Semtech by 12,214.3% during the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 2,565 shares during the period. Empowered Funds LLC lifted its stake in Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock valued at $14,166,000 after purchasing an additional 22,629 shares during the last quarter. Strs Ohio acquired a new stake in Semtech during the first quarter valued at approximately $65,000. Finally, Cetera Investment Advisers acquired a new stake in Semtech during the second quarter valued at approximately $226,000.

Insider Activity at Semtech

In other news, Director Martin Burvill sold 2,500 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the transaction, the director directly owned 4,409 shares of the company’s stock, valued at approximately $392,312.82. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 9,186 shares of Semtech stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total transaction of $689,409.30. Following the transaction, the chief financial officer directly owned 32,710 shares of the company’s stock, valued at $2,454,885.50. This represents a 21.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,384 shares of company stock worth $3,000,140 in the last ninety days. Company insiders own 0.48% of the company’s stock.

Semtech Stock Performance

NASDAQ SMTC opened at $132.08 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of -300.18 and a beta of 2.22. The company’s fifty day moving average is $92.45 and its two-hundred day moving average is $82.16. Semtech Corporation has a 52-week low of $34.59 and a 52-week high of $137.10.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Equities research analysts forecast that Semtech Corporation will post 1.6 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on SMTC shares. TD Cowen reissued a “buy” rating on shares of Semtech in a research note on Tuesday, February 24th. Craig Hallum upped their price target on shares of Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Needham & Company LLC upped their price target on shares of Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Oppenheimer upped their price target on shares of Semtech from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, Susquehanna increased their target price on shares of Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average price target of $95.71.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.