Dynamic Technology Lab Private Ltd boosted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 407.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,128 shares of the semiconductor company’s stock after buying an additional 21,782 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Semtech were worth $1,508,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Semtech in the 2nd quarter valued at $124,000. Meeder Asset Management Inc. acquired a new stake in shares of Semtech in the 3rd quarter valued at $155,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Semtech in the 2nd quarter valued at $160,000. CIBC Asset Management Inc acquired a new stake in shares of Semtech in the 2nd quarter valued at $215,000. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of Semtech in the 3rd quarter valued at $222,000. Institutional investors and hedge funds own 98.97% of the company’s stock.
In other Semtech news, SVP James Jungsup Kim sold 2,500 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $57.30, for a total transaction of $143,250.00. Following the transaction, the senior vice president now directly owns 46,225 shares of the company’s stock, valued at approximately $2,648,692.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emeka Chukwu sold 1,100 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $58.23, for a total transaction of $64,053.00. Following the transaction, the chief financial officer now directly owns 89,330 shares in the company, valued at $5,201,685.90. The disclosure for this sale can be found here. Insiders have sold a total of 79,995 shares of company stock worth $4,290,572 over the last three months. 2.30% of the stock is currently owned by insiders.
Shares of Semtech stock opened at $46.77 on Friday. Semtech Co. has a 1 year low of $31.30 and a 1 year high of $60.55. The company has a current ratio of 4.03, a quick ratio of 3.53 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.75.
Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, November 28th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The company had revenue of $173.60 million for the quarter, compared to the consensus estimate of $173.06 million. During the same period last year, the firm posted $0.54 EPS. Semtech’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts forecast that Semtech Co. will post 1.57 EPS for the current year.
A number of equities research analysts have recently weighed in on SMTC shares. Roth Capital set a $63.00 price objective on shares of Semtech and gave the company a “buy” rating in a report on Monday, October 8th. Stifel Nicolaus lifted their price target on shares of Semtech from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Needham & Company LLC lifted their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. ValuEngine lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, B. Riley reiterated a “buy” rating and set a $61.00 price target (up from $58.00) on shares of Semtech in a research note on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Semtech presently has a consensus rating of “Buy” and a consensus price target of $59.82.
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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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