Millennium Management LLC cut its holdings in Semtech (NASDAQ:SMTC) by 59.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,049 shares of the semiconductor company’s stock after selling 249,138 shares during the period. Millennium Management LLC owned 0.26% of Semtech worth $5,918,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SMTC. Legal & General Group Plc lifted its stake in Semtech by 4.5% during the third quarter. Legal & General Group Plc now owns 131,375 shares of the semiconductor company’s stock worth $4,931,000 after purchasing an additional 5,648 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Semtech by 9.6% during the third quarter. JPMorgan Chase & Co. now owns 234,390 shares of the semiconductor company’s stock worth $8,731,000 after purchasing an additional 20,499 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Semtech by 296.3% during the third quarter. Wells Fargo & Company MN now owns 498,698 shares of the semiconductor company’s stock worth $18,726,000 after purchasing an additional 372,861 shares in the last quarter. Stifel Financial Corp acquired a new position in Semtech during the third quarter worth $209,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Semtech by 153.7% during the third quarter. Cubist Systematic Strategies LLC now owns 27,651 shares of the semiconductor company’s stock worth $1,038,000 after purchasing an additional 16,750 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.
SMTC has been the topic of a number of research reports. BidaskClub cut Semtech from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Semtech in a research note on Friday, March 23rd. Roth Capital set a $45.00 price target on Semtech and gave the stock a “buy” rating in a research note on Thursday, March 15th. Finally, Piper Jaffray initiated coverage on Semtech in a research note on Monday, December 18th. They set a “neutral” rating and a $35.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Semtech has an average rating of “Buy” and a consensus target price of $43.44.
Shares of NASDAQ SMTC opened at $43.25 on Monday. The firm has a market capitalization of $2,933.58, a PE ratio of 30.89, a P/E/G ratio of 7.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.65. Semtech has a 12-month low of $31.30 and a 12-month high of $44.85.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $142.11 million for the quarter, compared to analysts’ expectations of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. analysts anticipate that Semtech will post 1.15 earnings per share for the current year.
In related news, SVP Asaf Silberstein sold 1,500 shares of the stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $40.50, for a total value of $60,750.00. Following the transaction, the senior vice president now owns 42,876 shares of the company’s stock, valued at $1,736,478. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles B. Ammann sold 2,250 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.33, for a total value of $77,242.50. Following the completion of the transaction, the executive vice president now directly owns 30,838 shares in the company, valued at approximately $1,058,668.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,963 shares of company stock worth $5,187,218. Insiders own 2.10% of the company’s stock.
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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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