Semtech Co. (SMTC) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its position in Semtech Co. (NASDAQ:SMTC) by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,933 shares of the semiconductor company’s stock after purchasing an additional 7,574 shares during the period. Summit Trail Advisors LLC’s holdings in Semtech were worth $1,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC lifted its stake in shares of Semtech by 6.9% in the 1st quarter. Mason Street Advisors LLC now owns 18,409 shares of the semiconductor company’s stock valued at $719,000 after purchasing an additional 1,191 shares in the last quarter. Comerica Bank lifted its stake in shares of Semtech by 2.1% in the 1st quarter. Comerica Bank now owns 69,727 shares of the semiconductor company’s stock valued at $2,984,000 after purchasing an additional 1,426 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Semtech by 5.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 26,500 shares of the semiconductor company’s stock valued at $1,035,000 after purchasing an additional 1,440 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Semtech by 24.2% in the 1st quarter. First Republic Investment Management Inc. now owns 9,034 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 1,761 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Semtech by 40.5% in the 1st quarter. Citigroup Inc. now owns 6,241 shares of the semiconductor company’s stock valued at $243,000 after purchasing an additional 1,798 shares in the last quarter. 96.38% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on SMTC shares. BidaskClub raised Semtech from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 15th. Summit Insights raised Semtech from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Roth Capital set a $45.00 price objective on Semtech and gave the company a “buy” rating in a research note on Thursday, March 15th. Royal Bank of Canada lifted their price objective on Semtech to $39.00 and gave the company a “market perform” rating in a research note on Thursday, March 15th. Finally, ValuEngine raised Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $53.44.

Semtech stock opened at $48.15 on Tuesday. The company has a market cap of $3.11 billion, a P/E ratio of 34.39, a P/E/G ratio of 8.42 and a beta of 1.22. The company has a current ratio of 4.09, a quick ratio of 3.51 and a debt-to-equity ratio of 0.30. Semtech Co. has a one year low of $31.30 and a one year high of $51.90.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 30th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $151.90 million for the quarter, compared to analyst estimates of $150.33 million. Semtech had a return on equity of 12.05% and a net margin of 6.44%. Semtech’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. sell-side analysts expect that Semtech Co. will post 1.12 EPS for the current year.

In related news, CFO Emeka Chukwu sold 1,900 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $39.00, for a total transaction of $74,100.00. Following the transaction, the chief financial officer now directly owns 90,430 shares of the company’s stock, valued at approximately $3,526,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohan Maheswaran sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $47.51, for a total value of $332,570.00. Following the transaction, the insider now directly owns 149,549 shares in the company, valued at $7,105,072.99. The disclosure for this sale can be found here. Insiders have sold a total of 312,353 shares of company stock worth $15,308,517 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

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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