Semtech Co. (NASDAQ:SMTC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in Semtech Co. (NASDAQ:SMTC) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,335,231 shares of the semiconductor company’s stock after selling 651,932 shares during the period. Vanguard Group Inc. owned approximately 9.50% of Semtech worth $304,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. BlackRock Inc. grew its holdings in Semtech by 0.8% in the 1st quarter. BlackRock Inc. now owns 9,591,218 shares of the semiconductor company’s stock worth $488,289,000 after buying an additional 71,416 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Semtech by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 2,662,637 shares of the semiconductor company’s stock valued at $127,940,000 after purchasing an additional 32,265 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Semtech by 80.7% during the second quarter. JPMorgan Chase & Co. now owns 1,577,500 shares of the semiconductor company’s stock valued at $76,067,000 after purchasing an additional 704,376 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Semtech by 0.4% during the second quarter. Fisher Asset Management LLC now owns 1,522,303 shares of the semiconductor company’s stock valued at $73,147,000 after purchasing an additional 6,389 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Semtech by 19.7% in the second quarter. Northern Trust Corp now owns 1,172,544 shares of the semiconductor company’s stock worth $56,341,000 after purchasing an additional 192,989 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

In other news, Director Carmelo J. Santoro sold 2,470 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $50.59, for a total transaction of $124,957.30. Following the sale, the director now owns 19,172 shares in the company, valued at $969,911.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Emeka Chukwu sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $58,300.00. Following the sale, the chief financial officer now owns 103,686 shares in the company, valued at approximately $5,495,358. The disclosure for this sale can be found here. Insiders have sold a total of 41,708 shares of company stock valued at $2,049,911 in the last quarter. Insiders own 1.96% of the company’s stock.

Semtech stock traded down $1.45 during midday trading on Tuesday, hitting $47.17. The company’s stock had a trading volume of 100,962 shares, compared to its average volume of 585,978. Semtech Co. has a 12 month low of $39.54 and a 12 month high of $57.96. The company has a quick ratio of 3.42, a current ratio of 4.10 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $3.28 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 3.86 and a beta of 1.87. The stock’s 50-day moving average price is $45.59 and its 200-day moving average price is $48.43.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $137.10 million during the quarter, compared to analyst estimates of $134.85 million. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, equities analysts anticipate that Semtech Co. will post 1.06 EPS for the current year.

A number of equities analysts recently issued reports on SMTC shares. Cowen decreased their target price on shares of Semtech from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. BidaskClub upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. Piper Jaffray Companies upped their price target on shares of Semtech from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Stifel Nicolaus increased their price objective on shares of Semtech from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday. Finally, Robert W. Baird set a $45.00 price objective on shares of Semtech and gave the company a “buy” rating in a research note on Monday, August 26th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.09.

Semtech 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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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