Semtech Co. (SMTC) Stake Raised by Royal Bank of Canada

Royal Bank of Canada grew its position in Semtech Co. (NASDAQ:SMTC) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,123 shares of the semiconductor company’s stock after acquiring an additional 4,151 shares during the quarter. Royal Bank of Canada’s holdings in Semtech were worth $12,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Suntrust Banks Inc. purchased a new stake in shares of Semtech in the fourth quarter valued at $237,000. Wells Fargo & Company MN raised its stake in shares of Semtech by 16.9% in the fourth quarter. Wells Fargo & Company MN now owns 582,742 shares of the semiconductor company’s stock valued at $19,930,000 after acquiring an additional 84,044 shares during the period. Clearbridge LLC raised its stake in shares of Semtech by 10.5% in the fourth quarter. Clearbridge LLC now owns 339,212 shares of the semiconductor company’s stock valued at $11,601,000 after acquiring an additional 32,240 shares during the period. Deutsche Bank AG raised its stake in shares of Semtech by 33.4% in the fourth quarter. Deutsche Bank AG now owns 176,631 shares of the semiconductor company’s stock valued at $6,038,000 after acquiring an additional 44,199 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Semtech by 0.7% in the fourth quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock valued at $284,147,000 after acquiring an additional 56,028 shares during the period. 96.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Semtech stock opened at $49.05 on Friday. The company has a current ratio of 4.09, a quick ratio of 3.51 and a debt-to-equity ratio of 0.30. Semtech Co. has a 1 year low of $31.30 and a 1 year high of $51.90. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 8.55 and a beta of 1.22.

Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Semtech had a net margin of 6.44% and a return on equity of 12.05%. The company had revenue of $151.90 million for the quarter, compared to analysts’ expectations of $150.33 million. During the same period in the prior year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. equities research analysts forecast that Semtech Co. will post 1.12 earnings per share for the current fiscal year.

In other Semtech news, CEO Mohan Maheswaran sold 9,000 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $40.13, for a total transaction of $361,170.00. Following the transaction, the chief executive officer now directly owns 236,319 shares in the company, valued at approximately $9,483,481.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Marc Pegulu sold 2,000 shares of the stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $43.21, for a total transaction of $86,420.00. Following the transaction, the vice president now owns 18,953 shares in the company, valued at $818,959.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 308,953 shares of company stock worth $15,173,667. 2.30% of the stock is owned by company insiders.

SMTC has been the topic of a number of research analyst reports. Loop Capital initiated coverage on shares of Semtech in a report on Thursday, June 21st. They issued a “buy” rating and a $60.00 price target on the stock. BidaskClub cut shares of Semtech from a “hold” rating to a “sell” rating in a report on Saturday, April 28th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Semtech in a report on Friday, March 23rd. BWS Financial upped their price target on shares of Semtech from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, Roth Capital set a $45.00 price target on shares of Semtech and gave the stock a “buy” rating in a report on Thursday, March 15th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.44.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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