FNY Managed Accounts LLC lowered its position in Semtech Corp. (NASDAQ:SMTC) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,900 shares of the company’s stock after selling 100 shares during the period. FNY Managed Accounts LLC’s holdings in Semtech Corp. were worth $236,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in SMTC. Norges Bank purchased a new position in shares of Semtech Corp. during the fourth quarter worth $14,404,000. Glenmede Trust Co. NA boosted its position in shares of Semtech Corp. by 2,761.8% in the first quarter. Glenmede Trust Co. NA now owns 11,905 shares of the company’s stock worth $260,000 after buying an additional 11,489 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Semtech Corp. during the first quarter worth $378,000. Ngam Advisors L.P. boosted its position in shares of Semtech Corp. by 10.0% in the first quarter. Ngam Advisors L.P. now owns 27,177 shares of the company’s stock worth $598,000 after buying an additional 2,461 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Semtech Corp. by 53.5% in the first quarter. Prudential Financial Inc. now owns 239,579 shares of the company’s stock worth $5,268,000 after buying an additional 83,490 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.
Shares of Semtech Corp. (NASDAQ:SMTC) traded up 0.84% during midday trading on Wednesday, reaching $27.72. 202,654 shares of the company’s stock traded hands. The company has a 50 day moving average of $26.56 and a 200 day moving average of $23.89. The firm has a market cap of $1.82 billion, a PE ratio of 65.84 and a beta of 1.26. Semtech Corp. has a 52-week low of $14.04 and a 52-week high of $28.17.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The business earned $135.90 million during the quarter. During the same quarter last year, the business posted $0.24 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that Semtech Corp. will post $1.34 EPS for the current fiscal year.
SMTC has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research report on Thursday, June 2nd. Royal Bank Of Canada raised their price objective on shares of Semtech Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Thursday, June 2nd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 2nd. Drexel Hamilton restated a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Semtech Corp. in a report on Friday, June 3rd. Finally, Zacks Investment Research upgraded shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.00.
In related news, insider Mohan Maheswaran sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $26.40, for a total transaction of $39,600.00. Following the completion of the sale, the insider now owns 183,367 shares in the company, valued at $4,840,888.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark C. Costello sold 3,042 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total transaction of $83,563.74. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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