Everence Capital Management Inc. raised its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 100.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,450 shares of the semiconductor company’s stock after buying an additional 4,740 shares during the period. Everence Capital Management Inc.’s holdings in Semtech were worth $481,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Oregon Public Employees Retirement Fund acquired a new position in shares of Semtech during the fourth quarter worth $25,000. Pearl River Capital LLC acquired a new position in shares of Semtech during the fourth quarter worth $25,000. Cutler Group LP acquired a new position in shares of Semtech during the fourth quarter worth $27,000. Cullen Frost Bankers Inc. acquired a new position in shares of Semtech during the first quarter worth $27,000. Finally, Enlightenment Research LLC acquired a new position in shares of Semtech during the fourth quarter worth $28,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.
SMTC opened at $48.03 on Thursday. The firm has a market capitalization of $3.15 billion, a P/E ratio of 36.11, a P/E/G ratio of 3.09 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.25 and a current ratio of 3.74. Semtech Co. has a 12-month low of $41.28 and a 12-month high of $60.55.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $160.00 million for the quarter, compared to analysts’ expectations of $158.48 million. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, equities research analysts anticipate that Semtech Co. will post 1.22 EPS for the current fiscal year.
In other Semtech news, SVP James Jungsup Kim sold 2,500 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $53.00, for a total transaction of $132,500.00. Following the completion of the sale, the senior vice president now owns 36,225 shares in the company, valued at $1,919,925. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ye Jane Li sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $54.97, for a total transaction of $274,850.00. Following the sale, the director now owns 7,328 shares of the company’s stock, valued at approximately $402,820.16. The disclosure for this sale can be found here. Insiders sold 123,614 shares of company stock worth $6,667,466 over the last ninety days. 1.96% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on SMTC shares. B. Riley boosted their target price on shares of Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. ValuEngine raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. BidaskClub cut shares of Semtech from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Loop Capital raised shares of Semtech to a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.09.
ILLEGAL ACTIVITY WARNING: “Semtech Co. (SMTC) Position Raised by Everence Capital Management Inc.” was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.thelincolnianonline.com/2019/05/16/semtech-co-smtc-position-raised-by-everence-capital-management-inc.html.
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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
Recommended Story: The Role of a Fiduciary and Individual Investors
Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Co. (NASDAQ:SMTC).
Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.