Pacer Advisors Inc. lowered its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 8.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,534 shares of the semiconductor company’s stock after selling 2,166 shares during the period. Pacer Advisors Inc.’s holdings in Semtech were worth $1,193,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SMTC. Clearbridge Investments LLC boosted its stake in Semtech by 1.0% in the first quarter. Clearbridge Investments LLC now owns 192,835 shares of the semiconductor company’s stock valued at $9,817,000 after acquiring an additional 1,860 shares during the last quarter. Nordea Investment Management AB increased its holdings in Semtech by 1.5% during the 1st quarter. Nordea Investment Management AB now owns 87,223 shares of the semiconductor company’s stock worth $4,440,000 after acquiring an additional 1,291 shares during the period. Retirement Systems of Alabama bought a new stake in Semtech during the 2nd quarter worth approximately $12,456,000. Scout Investments Inc. increased its holdings in Semtech by 65.1% during 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 period. Finally, Legacy Bridge LLC increased its holdings in Semtech by 58.0% during the 2nd quarter. Legacy Bridge LLC now owns 8,175 shares of the semiconductor company’s stock worth $393,000 after acquiring an additional 3,000 shares during the period. 96.25% of the stock is owned by institutional investors and hedge funds.
In other Semtech news, Director Sylvia Summers sold 6,487 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.31, for a total value of $300,412.97. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $926,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Asaf Silberstein sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $55.00, for a total value of $330,000.00. Following the transaction, the executive vice president now owns 50,653 shares in the company, valued at approximately $2,785,915. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,717 shares of company stock worth $1,262,791. 1.96% of the stock is owned by insiders.
A number of analysts recently weighed in on SMTC shares. B. Riley decreased their target price on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus upped their price objective on shares of Semtech from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 27th. ValuEngine cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 5th. Piper Jaffray Companies upped their price objective on shares of Semtech from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, BidaskClub raised shares of Semtech from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Semtech has an average rating of “Buy” and a consensus target price of $49.09.
NASDAQ:SMTC traded up $0.17 on Friday, reaching $53.72. 158,200 shares of the stock traded hands, compared to its average volume of 571,977. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 4.28 and a beta of 1.93. Semtech Co. has a 12 month low of $39.54 and a 12 month high of $57.96. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $49.74 and its 200 day simple moving average is $47.86.
Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The firm had revenue of $137.10 million during the quarter, compared to analyst estimates of $134.85 million. During the same period in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was down 16.0% on a year-over-year basis. Equities analysts anticipate that Semtech Co. will post 1.06 EPS for the current fiscal year.
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, 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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