ClariVest Asset Management LLC trimmed its stake in Semtech Corporation (NASDAQ:SMTC) by 51.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,087 shares of the semiconductor company’s stock after selling 70,624 shares during the quarter. ClariVest Asset Management LLC owned 0.10% of Semtech Corporation worth $2,481,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake in shares of Semtech Corporation by 15.5% in the second quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after acquiring an additional 1,124,083 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Semtech Corporation by 21.1% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock valued at $94,178,000 after purchasing an additional 459,808 shares in the last quarter. Fiera Capital Corp purchased a new stake in Semtech Corporation during the 2nd quarter worth approximately $11,770,000. Bank of New York Mellon Corp increased its stake in Semtech Corporation by 37.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,130,911 shares of the semiconductor company’s stock worth $42,466,000 after buying an additional 310,698 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Semtech Corporation by 29.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock worth $48,338,000 after buying an additional 309,928 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
In other Semtech Corporation news, EVP John Michael Wilson sold 4,000 shares of Semtech Corporation stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $36.14, for a total value of $144,560.00. Following the transaction, the executive vice president now owns 74,066 shares in the company, valued at approximately $2,676,745.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mohan Maheswaran sold 2,500 shares of Semtech Corporation stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $37.76, for a total transaction of $94,400.00. The disclosure for this sale can be found here. Insiders sold a total of 68,370 shares of company stock valued at $2,636,446 over the last ninety days. 2.20% of the stock is owned by corporate insiders.
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Semtech Corporation (NASDAQ SMTC) traded up $0.35 during mid-day trading on Tuesday, reaching $39.00. 618,000 shares of the company’s stock traded hands, compared to its average volume of 465,501. The stock has a market cap of $2,558.58, a PE ratio of 35.14, a P/E/G ratio of 6.28 and a beta of 1.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.42 and a quick ratio of 2.83. Semtech Corporation has a 12-month low of $27.10 and a 12-month high of $41.95.
Semtech Corporation (NASDAQ:SMTC) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. Semtech Corporation’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. equities analysts anticipate that Semtech Corporation will post 1.23 earnings per share for the current year.
Several research firms have commented on SMTC. B. Riley reiterated a “buy” rating and set a $48.00 price objective on shares of Semtech Corporation in a research note on Sunday, September 3rd. BWS Financial assumed coverage on shares of Semtech Corporation in a research note on Monday. They issued a “buy” rating and a $49.00 price objective for the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $42.00 target price on shares of Semtech Corporation in a research note on Sunday. BidaskClub cut shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $39.00 target price on shares of Semtech Corporation in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.29.
About Semtech Corporation
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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