Ameriprise Financial Inc. decreased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 545,174 shares of the semiconductor company’s stock after selling 87,891 shares during the period. Ameriprise Financial Inc. owned about 0.82% of Semtech worth $20,472,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. FMR LLC lifted its holdings in Semtech by 15.5% in the second quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after acquiring an additional 1,124,083 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Semtech by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock worth $217,384,000 after acquiring an additional 75,993 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Semtech by 21.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock worth $94,178,000 after acquiring an additional 459,808 shares during the last quarter. State Street Corp lifted its holdings in Semtech by 4.8% in the second quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock worth $68,013,000 after acquiring an additional 86,399 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Semtech by 29.7% in the second quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock worth $48,338,000 after acquiring an additional 309,928 shares during the last quarter. 94.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Mohan Maheswaran sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $35.64, for a total transaction of $89,100.00. Following the transaction, the insider now owns 220,372 shares in the company, valued at $7,854,058.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Beauchamp sold 21,666 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $39.84, for a total transaction of $863,173.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,723 shares of company stock worth $2,060,117. Corporate insiders own 2.20% of the company’s stock.
Shares of Semtech Co. (NASDAQ:SMTC) opened at $34.00 on Monday. The firm has a market capitalization of $2,256.19, a P/E ratio of 29.31, a PEG ratio of 5.62 and a beta of 1.41. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. Semtech Co. has a twelve month low of $30.60 and a twelve month high of $41.95.
Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The company had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. sell-side analysts forecast that Semtech Co. will post 1.21 EPS for the current year.
A number of equities analysts have issued reports on SMTC shares. BidaskClub cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. B. Riley reaffirmed a “buy” rating and set a $48.00 price target on shares of Semtech in a report on Thursday, August 24th. Oppenheimer reaffirmed a “buy” rating and set a $42.00 price target on shares of Semtech in a report on Sunday, August 27th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price target on shares of Semtech in a report on Thursday, August 31st. Finally, Zacks Investment Research cut Semtech from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.29.
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Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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