Wells Fargo & Company MN increased its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,837 shares of the semiconductor company’s stock after purchasing an additional 15,017 shares during the quarter. Wells Fargo & Company MN owned 0.19% of Semtech Corporation worth $4,499,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in Semtech Corporation by 254.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,144 shares of the semiconductor company’s stock worth $542,000 after purchasing an additional 10,877 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Semtech Corporation during the 2nd quarter worth $217,000. Eagle Asset Management Inc. grew its stake in Semtech Corporation by 51.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 126,135 shares of the semiconductor company’s stock worth $4,509,000 after purchasing an additional 42,836 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in Semtech Corporation during the 2nd quarter worth $207,000. Finally, Scout Investments Inc. grew its stake in Semtech Corporation by 3.9% during the 2nd quarter. Scout Investments Inc. now owns 144,150 shares of the semiconductor company’s stock worth $5,153,000 after purchasing an additional 5,475 shares in the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Mohan Maheswaran sold 2,500 shares of Semtech Corporation stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $40.03, for a total value of $100,075.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Asaf Silberstein sold 1,100 shares of Semtech Corporation stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $40.28, for a total value of $44,308.00. Following the completion of the transaction, the senior vice president now owns 29,900 shares of the company’s stock, valued at $1,204,372. The disclosure for this sale can be found here. Insiders sold 48,101 shares of company stock valued at $1,824,113 over the last quarter. Insiders own 2.10% of the company’s stock.
Shares of Semtech Corporation (NASDAQ:SMTC) opened at 39.45 on Friday. The company has a 50 day moving average price of $37.08 and a 200-day moving average price of $36.31. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.15. The firm has a market capitalization of $2.61 billion, a PE ratio of 41.70 and a beta of 1.45.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $153.10 million during the quarter, compared to the consensus estimate of $154.91 million. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. Equities research analysts expect that Semtech Corporation will post $1.89 EPS for the current fiscal year.
SMTC has been the subject of several analyst reports. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $42.00 target price on shares of Semtech Corporation in a research note on Sunday, August 27th. Zacks Investment Research cut Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a research report on Thursday, July 6th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, August 31st. Finally, BidaskClub cut Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $43.50.
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Semtech Corporation Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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