Oribel Capital Management LP purchased a new stake in Semtech Co. (NASDAQ:SMTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,800 shares of the semiconductor company’s stock, valued at approximately $2,319,000. Oribel Capital Management LP owned 0.10% of Semtech at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Semtech by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after acquiring an additional 186 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Semtech by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock worth $975,000 after buying an additional 1,700 shares during the last quarter. Rhumbline Advisers grew its stake in Semtech by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 130,593 shares of the semiconductor company’s stock worth $4,904,000 after buying an additional 2,421 shares during the last quarter. American International Group Inc. grew its stake in Semtech by 5.8% during the 3rd quarter. American International Group Inc. now owns 51,537 shares of the semiconductor company’s stock worth $1,935,000 after buying an additional 2,843 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Semtech during the 3rd quarter worth approximately $133,000. 97.70% of the stock is owned by institutional investors and hedge funds.
SMTC has been the subject of several recent analyst reports. B. Riley reissued a “buy” rating and issued a $46.00 price target (down from $48.00) on shares of Semtech in a report on Monday, November 27th. Oppenheimer reissued a “buy” rating and issued a $42.00 price target on shares of Semtech in a report on Sunday, November 19th. BWS Financial started coverage on Semtech in a research report on Monday, November 20th. They issued a “buy” rating and a $49.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $42.00 price target on shares of Semtech in a research report on Thursday, January 18th. Finally, BidaskClub downgraded Semtech from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Semtech currently has an average rating of “Buy” and an average target price of $41.89.
In related news, CFO Emeka Chukwu sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $34.32, for a total value of $68,640.00. Following the completion of the sale, the chief financial officer now owns 71,776 shares of the company’s stock, valued at $2,463,352.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Charles B. Ammann sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $34.31, for a total transaction of $77,197.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,034 shares of company stock worth $3,912,067. 2.20% of the stock is currently owned by company insiders.
Shares of Semtech Co. (SMTC) traded down $0.05 during midday trading on Wednesday, reaching $34.90. The company’s stock had a trading volume of 1,368,733 shares, compared to its average volume of 574,736. Semtech Co. has a 52-week low of $31.30 and a 52-week high of $41.95. The company has a market cap of $2,320.00, a price-to-earnings ratio of 51.32, a P/E/G ratio of 4.70 and a beta of 1.40. 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 (NASDAQ:SMTC) last released its earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $142.11 million during the quarter, compared to analyst estimates of $140.49 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 earnings per share. analysts predict that Semtech Co. will post 1.21 EPS for the current year.
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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