Russell Investments Group Ltd. lessened its stake in Semtech Co. (NASDAQ:SMTC) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,415 shares of the semiconductor company’s stock after selling 2,590 shares during the quarter. Russell Investments Group Ltd.’s holdings in Semtech were worth $1,580,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in Semtech in the 2nd quarter valued at approximately $124,000. NumerixS Investment Technologies Inc purchased a new position in Semtech in the 2nd quarter valued at approximately $160,000. CIBC Asset Management Inc purchased a new position in Semtech in the 2nd quarter valued at approximately $215,000. TRUE Private Wealth Advisors purchased a new position in Semtech in the 3rd quarter valued at approximately $222,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Semtech in the 2nd quarter valued at approximately $252,000. 98.97% of the stock is currently owned by institutional investors.
SMTC opened at $50.55 on Friday. The firm has a market cap of $3.29 billion, a PE ratio of 36.11, a PEG ratio of 2.55 and a beta of 1.75. The company has a quick ratio of 3.53, a current ratio of 4.03 and a debt-to-equity ratio of 0.28. Semtech Co. has a one year low of $31.30 and a one year high of $60.55.
Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, November 28th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $173.60 million during the quarter, compared to analyst estimates of $173.06 million. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. Sell-side analysts forecast that Semtech Co. will post 1.57 EPS for the current fiscal year.
A number of research analysts recently weighed in on SMTC shares. Roth Capital set a $63.00 price objective on shares of Semtech and gave the company a “buy” rating in a research note on Monday, October 8th. BidaskClub upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. ValuEngine upgraded shares of Semtech from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 12th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $57.00 price objective on shares of Semtech in a research note on Monday, August 27th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Semtech in a research note on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $60.40.
In related news, insider Mohan Maheswaran sold 53,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $52.49, for a total value of $2,781,970.00. Following the completion of the transaction, the insider now directly owns 137,982 shares in the company, valued at $7,242,675.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ye Jane Li sold 3,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $52.49, for a total transaction of $157,470.00. Following the completion of the sale, the director now directly owns 2,328 shares of the company’s stock, valued at $122,196.72. The disclosure for this sale can be found here. Insiders have sold a total of 79,995 shares of company stock valued at $4,290,572 over the last 90 days. Company insiders own 2.30% of the company’s stock.
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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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