Rhumbline Advisers raised its position in shares of Semtech (NASDAQ:SMTC) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,120 shares of the semiconductor company’s stock after buying an additional 3,263 shares during the quarter. Rhumbline Advisers owned about 0.23% of Semtech worth $6,057,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Semtech by 0.7% during the 4th quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock valued at $284,147,000 after buying an additional 56,028 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Semtech by 19.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,346,520 shares of the semiconductor company’s stock valued at $46,052,000 after buying an additional 215,609 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Semtech by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,294,416 shares of the semiconductor company’s stock valued at $44,269,000 after buying an additional 60,200 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Semtech by 8.1% during the 4th quarter. Macquarie Group Ltd. now owns 1,237,974 shares of the semiconductor company’s stock valued at $42,339,000 after buying an additional 92,809 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Semtech by 6.3% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,201,474 shares of the semiconductor company’s stock valued at $41,090,000 after buying an additional 71,554 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.
In related news, insider Mohan Maheswaran sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $33.79, for a total transaction of $743,380.00. Following the completion of the sale, the insider now directly owns 218,872 shares of the company’s stock, valued at approximately $7,395,684.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Asaf Silberstein sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $40.50, for a total value of $60,750.00. Following the sale, the senior vice president now directly owns 42,876 shares of the company’s stock, valued at $1,736,478. The disclosure for this sale can be found here. Insiders sold a total of 120,463 shares of company stock valued at $4,561,093 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.
NASDAQ:SMTC opened at $43.75 on Tuesday. The company has a market capitalization of $2.87 billion, a PE ratio of 31.25, a P/E/G ratio of 7.56 and a beta of 1.20. Semtech has a 1 year low of $31.30 and a 1 year high of $44.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.65 and a quick ratio of 3.09.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $142.11 million during the quarter, compared to analyst estimates of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS. research analysts expect that Semtech will post 1.15 EPS for the current fiscal year.
Several research firms have weighed in on SMTC. Royal Bank of Canada upgraded Semtech from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 9th. They noted that the move was a valuation call. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine upgraded Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Semtech in a report on Friday, March 23rd. Finally, Piper Jaffray Companies upgraded Semtech from a “neutral” rating to an “overweight” rating and set a $35.00 price target for the company in a report on Wednesday, April 4th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Semtech currently has an average rating of “Buy” and a consensus target price of $43.44.
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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