Allianz Asset Management GmbH Decreases Position in Semtech Co. (SMTC)

Allianz Asset Management GmbH lessened its position in Semtech Co. (NASDAQ:SMTC) by 58.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,391 shares of the semiconductor company’s stock after selling 133,159 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.15% of Semtech worth $3,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in shares of Semtech by 22.2% during the 2nd quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Semtech by 2.0% in 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 period. Quantbot Technologies LP acquired a new stake in shares of Semtech in the 3rd quarter valued at about $133,000. Victory Capital Management Inc. boosted its position in shares of Semtech by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 717 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in shares of Semtech by 65.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 2,030 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Semtech Co. (NASDAQ SMTC) traded up $1.50 during trading hours on Friday, reaching $38.80. The company’s stock had a trading volume of 911,183 shares, compared to its average volume of 437,442. The firm has a market cap of $2,475.17, a PE ratio of 56.23, a PEG ratio of 6.17 and a beta of 1.41. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. Semtech Co. has a 52-week low of $31.50 and a 52-week high of $41.95.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The business had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $155.69 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. equities analysts anticipate that Semtech Co. will post 1.21 EPS for the current year.

In related news, EVP John Michael Wilson sold 10,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $35.78, for a total value of $357,800.00. Following the transaction, the executive vice president now directly owns 84,066 shares of the company’s stock, valued at approximately $3,007,881.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Asaf Silberstein sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $40.72, for a total value of $40,720.00. Following the completion of the transaction, the senior vice president now directly owns 28,900 shares in the company, valued at $1,176,808. The disclosure for this sale can be found here. Insiders have sold 45,034 shares of company stock worth $1,618,302 in the last 90 days. Insiders own 2.10% of the company’s stock.

SMTC has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a “hold” rating and issued a $34.00 target price on shares of Semtech in a research report on Thursday, November 30th. BidaskClub downgraded Semtech from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. BWS Financial set a $49.00 price objective on Semtech and gave the company a “buy” rating in a research note on Thursday, November 30th. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Oppenheimer reaffirmed a “buy” rating and set a $42.00 price objective on shares of Semtech in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.90.

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Semtech 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.

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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