Scout Investments Inc. decreased its holdings in Semtech Co. (NASDAQ: SMTC – Get Rating) by 5.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,960 shares of the semiconductor company stock after selling 9,276 shares during the quarter. Scout Investments Inc. owned 0.25% of Semtech worth $ 10,953,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Juncture Wealth Strategies LLC bought a new stake in shares of Semtech in the fourth quarter valued at approximately $ 261,000. California Public Employees Retirement System increased its position in shares of Semtech by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 144,249 shares of the semiconductor company stock worth $ 12,828,000 after purchasing an additional 1,409 shares during the period. Yousif Capital Management LLC acquired a new position in Semtech in the fourth quarter valued at about $ 2,977,000. Dupont Capital Management Corp lifted its position in Semtech by 11.4% during the fourth quarter. Dupont Capital Management Corp now owns 20,007 shares of the semiconductor company stock worth $ 1,779,000 after purchasing an additional 2,048 shares during the period. Finally, Cim Investment Management Inc. grew its stake in Semtech by 100.0% during the fourth quarter. Cim Investment Management Inc. now owns 5,182 shares of the semiconductor company stock worth $ 432,000 after buying an additional 2,591 shares in the last quarter. 96.33% of the stock is currently owned by institutional investors.
In other news, SVP Michael W. Rodensky sold 4,000 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $ 68.79, for a total transaction of $ 275,160.00. Following the completion of the sale, the senior vice president now directly owns 10,138 shares in the company, valued at $ 697,393.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Asaf Silberstein sold 1,971 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $ 62.60, for a total transaction of $ 123,384.60. Following the completion of the transaction, the executive vice president now owns 59,000 shares in the company, valued at approximately $ 3,693,400. The disclosure for this sale can be found here. Insiders sold a total of 21,921 shares of company stock worth $ 1,449,526 in the last quarter. Corporate insiders own 1.30% of the company stock.
Shares of NASDAQ SMTC opened at $ 57.34 on Friday. The company has a 50 day simple moving average of $ 60.00 and a 200 day simple moving average of $ 68.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.49 and a quick ratio of 3.52. Semtech Co. has a 1 year low of $ 52.92 and a 1 year high of $ 94.92. The firm has a market cap of $ 3.64 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.53.
Semtech (NASDAQ: SMTC – Get Rating) last issued its quarterly earnings results on Wednesday, June 1st. The semiconductor company reported $ 0.80 EPS for the quarter, topping analysts’ consensus estimates of $ 0.76 by $ 0.04. The company had revenue of $ 202.10 million for the quarter, compared to analyst estimates of $ 199.98 million. Semtech had a net margin of 18.15% and a return on equity of 20.24%. Semtech’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $ 0.38 earnings per share. As a group, research analysts anticipate that Semtech Co. will post 2.75 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Semtech from $ 85.00 to $ 75.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. Stifel Nicolaus reduced their target price on Semtech from $ 102.00 to $ 95.00 in a report on Thursday, March 17th. StockNews.com assumed coverage on Semtech in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Wells Fargo & Company reduced their price objective on Semtech from $ 100.00 to $ 85.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. Finally, Oppenheimer dropped their target price on shares of Semtech from $ 100.00 to $ 85.00 in a report on Thursday, May 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $ 78.40.
About Semtech: (Get Rating)
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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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