BlackRock Inc. lifted its position in shares of Semtech Co. (NASDAQ:SMTC) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,497,991 shares of the semiconductor company’s stock after purchasing an additional 363,609 shares during the period. BlackRock Inc. owned about 14.34% of Semtech worth $528,088,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in SMTC. Victory Capital Management Inc. lifted its position in Semtech by 1.9% in the second quarter. Victory Capital Management Inc. now owns 64,019 shares of the semiconductor company’s stock valued at $3,012,000 after acquiring an additional 1,197 shares during the last quarter. GSA Capital Partners LLP lifted its position in Semtech by 33.5% in the second quarter. GSA Capital Partners LLP now owns 6,856 shares of the semiconductor company’s stock valued at $323,000 after acquiring an additional 1,721 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Semtech by 12.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,809 shares of the semiconductor company’s stock valued at $879,000 after acquiring an additional 1,809 shares during the last quarter. First Mercantile Trust Co. lifted its position in Semtech by 8.9% in the third quarter. First Mercantile Trust Co. now owns 29,974 shares of the semiconductor company’s stock valued at $1,668,000 after acquiring an additional 2,440 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Semtech in the second quarter valued at $124,000. 98.97% of the stock is owned by institutional investors and hedge funds.
NASDAQ SMTC opened at $46.77 on Friday. 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 capitalization 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 Co. has a one year low of $31.30 and a one year high of $60.55.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, November 28th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $173.60 million for the quarter, compared to analyst estimates of $173.06 million. Semtech had a net margin of 7.97% and a return on equity of 14.23%. Semtech’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. Equities analysts anticipate that Semtech Co. will post 1.57 earnings per share for the current year.
SMTC has been the subject of a number of research reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $57.00 price target on shares of Semtech in a research report on Monday, August 27th. Royal Bank of Canada boosted their price target on shares of Semtech to $55.00 and gave the company an “outperform” rating in a research report on Monday, August 27th. BidaskClub cut shares of Semtech from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Needham & Company LLC boosted their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, Stifel Nicolaus boosted their price target on shares of Semtech from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Semtech currently has an average rating of “Buy” and a consensus target price of $59.82.
In other Semtech news, VP Marc Pegulu sold 2,000 shares of Semtech stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $58.00, for a total value of $116,000.00. Following the transaction, the vice president now directly owns 16,068 shares in the company, valued at $931,944. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James Jungsup Kim sold 8,617 shares of Semtech stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $60.00, for a total transaction of $517,020.00. Following the completion of the transaction, the senior vice president now owns 54,842 shares in the company, valued at $3,290,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,995 shares of company stock worth $4,290,572. 2.30% of the stock is currently owned by company insiders.
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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, 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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