Capstone Asset Management Co. lowered its position in Semtech Corporation (NASDAQ:SMTC) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,843 shares of the semiconductor company’s stock after selling 1,290 shares during the period. Capstone Asset Management Co.’s holdings in Semtech Corporation were worth $388,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in SMTC. Great West Life Assurance Co. Can raised its stake in shares of Semtech Corporation by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 91,935 shares of the semiconductor company’s stock worth $3,103,000 after buying an additional 5,439 shares during the period. Wells Fargo & Company MN raised its stake in shares of Semtech Corporation by 79.4% in the first quarter. Wells Fargo & Company MN now owns 110,820 shares of the semiconductor company’s stock worth $3,746,000 after buying an additional 49,056 shares during the period. Old Mutual Global Investors UK Ltd. raised its stake in shares of Semtech Corporation by 725.9% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 197,270 shares of the semiconductor company’s stock worth $6,667,000 after buying an additional 173,385 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Semtech Corporation by 113.4% in the first quarter. Russell Investments Group Ltd. now owns 36,728 shares of the semiconductor company’s stock worth $1,242,000 after buying an additional 19,521 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Semtech Corporation by 72.0% in the first quarter. Fisher Asset Management LLC now owns 79,972 shares of the semiconductor company’s stock worth $2,703,000 after buying an additional 33,479 shares during the period. 94.21% of the stock is currently owned by institutional investors.
Semtech Corporation (NASDAQ SMTC) opened at 35.80 on Friday. The stock’s 50 day moving average price is $37.93 and its 200-day moving average price is $35.45. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The stock has a market cap of $2.35 billion, a P/E ratio of 39.87 and a beta of 1.44.
Semtech Corporation (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Semtech Corporation had a return on equity of 12.16% and a net margin of 10.70%. The firm had revenue of $149.10 million for the quarter, compared to the consensus estimate of $145.60 million. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts predict that Semtech Corporation will post $1.85 earnings per share for the current year.
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A number of equities research analysts have recently issued reports on the company. Drexel Hamilton boosted their target price on Semtech Corporation from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, June 1st. B. Riley reaffirmed a “buy” rating and set a $48.00 target price on shares of Semtech Corporation in a research report on Thursday, June 1st. Robert W. Baird reiterated an “outperform” rating and set a $45.00 price target on shares of Semtech Corporation in a report on Thursday, June 1st. BidaskClub downgraded Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $39.00 price target on shares of Semtech Corporation in a report on Thursday, July 6th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Semtech Corporation presently has an average rating of “Buy” and a consensus price target of $43.50.
In other Semtech Corporation news, SVP Asaf Silberstein sold 1,000 shares of Semtech Corporation stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $36.50, for a total value of $36,500.00. Following the sale, the senior vice president now owns 33,036 shares of the company’s stock, valued at approximately $1,205,814. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mohan Maheswaran sold 1,500 shares of Semtech Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $36.45, for a total value of $54,675.00. Following the completion of the sale, the insider now directly owns 195,311 shares in the company, valued at approximately $7,119,085.95. The disclosure for this sale can be found here. Insiders sold a total of 91,400 shares of company stock worth $3,327,434 in the last three months. Company insiders own 2.10% of the company’s stock.
Semtech Corporation Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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