Louisiana State Employees Retirement System boosted its stake in shares of Semtech Corp. (NASDAQ:SMTC) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 28,900 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Semtech Corp. were worth $690,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its stake in shares of Semtech Corp. by 2.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,653,672 shares of the company’s stock valued at $36,364,000 after buying an additional 42,426 shares during the period. UBS Asset Management Americas Inc. increased its stake in Semtech Corp. by 841.3% in the first quarter. UBS Asset Management Americas Inc. now owns 420,048 shares of the company’s stock valued at $9,236,000 after buying an additional 375,422 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Semtech Corp. during the second quarter valued at approximately $5,778,000. Prudential Financial Inc. increased its stake in Semtech Corp. by 53.5% in the first quarter. Prudential Financial Inc. now owns 239,579 shares of the company’s stock valued at $5,268,000 after buying an additional 83,490 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Semtech Corp. by 44,214.7% in the first quarter. JPMorgan Chase & Co. now owns 66,472 shares of the company’s stock valued at $1,462,000 after buying an additional 66,322 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Semtech Corp. (NASDAQ:SMTC) traded down 1.92% during mid-day trading on Wednesday, reaching $25.48. 369,276 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.67 billion, a P/E ratio of 60.52 and a beta of 1.37. The stock has a 50-day moving average of $27.07 and a 200 day moving average of $24.32. Semtech Corp. has a one year low of $15.70 and a one year high of $28.21.
Semtech Corp. (NASDAQ:SMTC) last issued its earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The firm had revenue of $135.90 million for the quarter. During the same quarter in the prior year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts forecast that Semtech Corp. will post $1.34 EPS for the current fiscal year.
Several equities research analysts recently commented on SMTC shares. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a research report on Thursday, June 23rd. Drexel Hamilton reiterated a “buy” rating and set a $32.00 target price on shares of Semtech Corp. in a research report on Saturday. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, B. Riley reiterated a “buy” rating and set a $37.00 target price on shares of Semtech Corp. in a research report on Tuesday. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Semtech Corp. presently has a consensus rating of “Buy” and an average target price of $27.33.
In related news, VP Mark C. Costello sold 3,042 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total value of $83,563.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohan Maheswaran sold 1,500 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $26.00, for a total value of $39,000.00. Following the completion of the sale, the insider now directly owns 184,867 shares of the company’s stock, valued at approximately $4,806,542. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.
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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