Scout Investments Inc. trimmed its position in Semtech Co. (NASDAQ:SMTC) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,834 shares of the semiconductor company’s stock after selling 9,086 shares during the quarter. Scout Investments Inc. owned approximately 0.32% of Semtech worth $11,312,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Semtech by 5.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,870 shares of the semiconductor company’s stock worth $1,195,000 after buying an additional 1,267 shares during the period. Bank of Montreal Can grew its stake in shares of Semtech by 31.3% in the 2nd quarter. Bank of Montreal Can now owns 10,808 shares of the semiconductor company’s stock worth $519,000 after buying an additional 2,575 shares during the last quarter. LPL Financial LLC increased its position in Semtech by 15.1% during the 2nd quarter. LPL Financial LLC now owns 11,042 shares of the semiconductor company’s stock valued at $531,000 after buying an additional 1,449 shares in the last quarter. Renaissance Technologies LLC raised its stake in Semtech by 2.6% during the second quarter. Renaissance Technologies LLC now owns 968,500 shares of the semiconductor company’s stock valued at $46,536,000 after buying an additional 24,187 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Semtech in the second quarter worth $1,283,000. Institutional investors own 96.64% of the company’s stock.
Several brokerages recently weighed in on SMTC. BWS Financial downgraded shares of Semtech from a “buy” rating to a “hold” rating and reduced their price target for the company from $70.00 to $50.00 in a research report on Friday, November 15th. Piper Jaffray Companies boosted their price objective on Semtech from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Susquehanna Bancshares reissued a “hold” rating and issued a $48.00 price target on shares of Semtech in a report on Thursday, December 5th. Wells Fargo & Co lifted their price objective on shares of Semtech from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $52.00 target price on shares of Semtech in a research note on Wednesday, November 27th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $47.91.
In related news, CEO Mohan Maheswaran sold 10,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $46.66, for a total transaction of $466,600.00. Following the completion of the sale, the chief executive officer now owns 181,714 shares in the company, valued at approximately $8,478,775.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Sharon K. Faltemier sold 7,500 shares of Semtech stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $53.11, for a total transaction of $398,325.00. Following the completion of the transaction, the senior vice president now owns 40,776 shares in the company, valued at $2,165,613.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,500 shares of company stock worth $2,941,135. 1.96% of the stock is owned by company insiders.
Shares of Semtech stock opened at $53.32 on Thursday. The company has a market capitalization of $3.57 billion, a PE ratio of 40.09, a P/E/G ratio of 4.62 and a beta of 1.93. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.66 and a current ratio of 4.35. The company has a 50-day simple moving average of $50.54 and a two-hundred day simple moving average of $49.09. Semtech Co. has a one year low of $39.54 and a one year high of $57.96.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, December 4th. The semiconductor company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $141.00 million during the quarter, compared to the consensus estimate of $140.15 million. Semtech had a net margin of 8.71% and a return on equity of 10.64%. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Semtech Co. will post 0.97 earnings per share for the current fiscal year.
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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