Stephens Investment Management Group LLC Acquires 33,599 Shares of Semtech Co. (NASDAQ:SMTC)

Stephens Investment Management Group LLC boosted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,122,621 shares of the semiconductor company’s stock after purchasing an additional 33,599 shares during the quarter. Semtech comprises 1.0% of Stephens Investment Management Group LLC’s portfolio, making the stock its 29th biggest holding. Stephens Investment Management Group LLC owned 1.68% of Semtech worth $53,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SMTC. JPMorgan Chase & Co. raised its stake in Semtech by 524.7% during the 1st quarter. JPMorgan Chase & Co. now owns 873,124 shares of the semiconductor company’s stock valued at $44,450,000 after purchasing an additional 733,351 shares during the period. Fiera Capital Corp increased its stake in Semtech by 518.6% in the 1st quarter. Fiera Capital Corp now owns 671,903 shares of the semiconductor company’s stock worth $34,206,000 after acquiring an additional 563,292 shares during the last quarter. Retirement Systems of Alabama bought a new stake in Semtech in the 2nd quarter worth approximately $12,456,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in Semtech in the 1st quarter worth approximately $12,928,000. Finally, Scout Investments Inc. increased its stake in Semtech by 65.1% in the 2nd quarter. Scout Investments Inc. now owns 248,237 shares of the semiconductor company’s stock worth $11,928,000 after acquiring an additional 97,847 shares during the last quarter. 96.34% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on SMTC. Cowen began coverage on Semtech in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $56.00 price objective on the stock. B. Riley dropped their target price on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Wells Fargo & Co initiated coverage on Semtech in a report on Tuesday, May 14th. They issued an “outperform” rating and a $48.03 target price for the company. BidaskClub cut Semtech from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Oppenheimer dropped their price objective on Semtech from $60.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Semtech currently has a consensus rating of “Buy” and an average target price of $55.00.

Shares of SMTC traded up $0.07 during trading hours on Thursday, hitting $44.17. The company had a trading volume of 10,986 shares, compared to its average volume of 388,253. The company has a market cap of $3.01 billion, a P/E ratio of 32.94, a PEG ratio of 3.35 and a beta of 1.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 3.71. Semtech Co. has a one year low of $39.54 and a one year high of $60.55. The business’s fifty day moving average price is $49.16.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The firm had revenue of $131.40 million during the quarter, compared to analyst estimates of $130.40 million. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. Sell-side analysts predict that Semtech Co. will post 1.12 earnings per share for the current year.

In other news, VP Mark C. Costello sold 12,046 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $45.46, for a total value of $547,611.16. Following the completion of the transaction, the vice president now directly owns 12,041 shares of the company’s stock, valued at approximately $547,383.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James Jungsup Kim sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,854 shares of the company’s stock, valued at $2,530,116. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,333 shares of company stock valued at $5,116,475. Corporate insiders own 1.96% of the company’s stock.

About Semtech

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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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