Semtech (SMTC) Shares Bought by First Mercantile Trust Co.

First Mercantile Trust Co. boosted its stake in Semtech (NASDAQ:SMTC) by 105.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,588 shares of the semiconductor company’s stock after purchasing an additional 9,520 shares during the quarter. First Mercantile Trust Co.’s holdings in Semtech were worth $726,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Semtech by 0.7% in the 4th quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock worth $284,147,000 after purchasing an additional 56,028 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Semtech by 51.0% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,722,826 shares of the semiconductor company’s stock worth $145,376,000 after buying an additional 1,257,431 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Semtech by 19.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,346,520 shares of the semiconductor company’s stock worth $46,052,000 after buying an additional 215,609 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Semtech by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,294,416 shares of the semiconductor company’s stock worth $44,269,000 after buying an additional 60,200 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Semtech by 8.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,237,974 shares of the semiconductor company’s stock worth $42,339,000 after buying an additional 92,809 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

A number of analysts have recently weighed in on SMTC shares. Piper Jaffray upgraded shares of Semtech from a “neutral” rating to an “overweight” rating and set a $35.00 target price on the stock in a report on Wednesday, April 4th. BidaskClub upgraded shares of Semtech from a “strong sell” rating to a “sell” rating in a report on Thursday, March 15th. ValuEngine upgraded shares of Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada upgraded shares of Semtech from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 9th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $43.44.

In related news, insider Mohan Maheswaran sold 22,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $33.79, for a total transaction of $743,380.00. Following the transaction, the insider now directly owns 218,872 shares in the company, valued at approximately $7,395,684.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emeka Chukwu sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.32, for a total transaction of $68,640.00. Following the transaction, the chief financial officer now owns 87,317 shares in the company, valued at $2,996,719.44. The disclosure for this sale can be found here. Insiders have sold a total of 120,463 shares of company stock worth $4,561,093 over the last quarter. 2.30% of the stock is currently owned by insiders.

Shares of Semtech opened at $42.95 on Wednesday, MarketBeat.com reports. The stock has a market cap of $2.87 billion, a P/E ratio of 33.64, a PEG ratio of 7.55 and a beta of 1.20. Semtech has a 12 month low of $42.80 and a 12 month high of $43.30. 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 (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $142.11 million for the quarter, compared to the consensus estimate of $140.49 million. Semtech had a net margin of 6.20% and a return on equity of 13.34%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. equities analysts forecast that Semtech will post 1.15 EPS for the current year.

About Semtech

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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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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