Dimensional Fund Advisors LP lessened its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,549,925 shares of the semiconductor company’s stock after selling 147,234 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.36% of Semtech Corporation worth $55,410,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strs Ohio lifted its holdings in shares of Semtech Corporation by 22.2% during the 2nd quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Semtech Corporation by 2.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 65 shares during the last quarter. FNY Partners Fund LP lifted its holdings in shares of Semtech Corporation by 515.4% during the 1st quarter. FNY Partners Fund LP now owns 4,000 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 3,350 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Semtech Corporation in the 1st quarter worth $137,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Semtech Corporation in the 1st quarter worth $144,000. 94.39% of the stock is currently owned by institutional investors and hedge funds.
SMTC has been the subject of a number of research analyst reports. B. Riley restated a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a research note on Thursday, October 5th. Drexel Hamilton reiterated a “buy” rating and set a $45.00 price objective on shares of Semtech Corporation in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $42.00 price objective on shares of Semtech Corporation in a research note on Sunday, August 27th. BidaskClub lowered Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.50.
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In other news, SVP Asaf Silberstein sold 1,100 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $40.28, for a total value of $44,308.00. Following the completion of the sale, the senior vice president now directly owns 29,900 shares in the company, valued at $1,204,372. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Emeka Chukwu sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.89, for a total transaction of $79,780.00. Following the completion of the sale, the chief financial officer now owns 77,776 shares of the company’s stock, valued at $3,102,484.64. The disclosure for this sale can be found here. Insiders have sold 69,767 shares of company stock worth $2,687,287 over the last ninety days. 2.10% of the stock is currently owned by insiders.
Semtech Corporation (SMTC) opened at 39.55 on Friday. Semtech Corporation has a 1-year low of $22.81 and a 1-year high of $41.15. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 41.81 and a beta of 1.45. The firm has a 50-day moving average of $37.38 and a 200-day moving average of $36.62.
Semtech Corporation (NASDAQ:SMTC) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities research analysts anticipate that Semtech Corporation will post $1.89 EPS for the current year.
About Semtech Corporation
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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