ClariVest Asset Management LLC Sells 70,624 Shares of Semtech Co. (NASDAQ:SMTC)

ClariVest Asset Management LLC decreased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 51.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,087 shares of the semiconductor company’s stock after selling 70,624 shares during the quarter. ClariVest Asset Management LLC owned about 0.10% of Semtech worth $2,481,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Strs Ohio raised its stake in Semtech by 22.2% during the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Semtech by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 65 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Semtech during the third quarter valued at $133,000. Victory Capital Management Inc. raised its stake in Semtech by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 717 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Semtech by 65.5% during the second quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 2,030 shares in the last quarter. Hedge funds and other institutional investors own 94.23% of the company’s stock.

Shares of Semtech Co. (NASDAQ:SMTC) traded down $1.00 on Wednesday, hitting $32.50. 622,632 shares of the stock traded hands, compared to its average volume of 483,419. Semtech Co. has a 1-year low of $30.60 and a 1-year high of $41.95. The stock has a market capitalization of $2,242.92, a P/E ratio of 29.14, a P/E/G ratio of 5.59 and a beta of 1.41. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32.

Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $155.69 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts forecast that Semtech Co. will post 1.21 EPS for the current year.

A number of equities research analysts recently issued reports on SMTC shares. BidaskClub downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. B. Riley reaffirmed a “buy” rating and set a $48.00 price target on shares of Semtech in a research note on Thursday, August 24th. Oppenheimer reaffirmed a “buy” rating and set a $42.00 price target on shares of Semtech in a research note on Sunday, August 27th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price target on shares of Semtech in a research note on Thursday, August 31st. Finally, Zacks Investment Research downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Semtech has an average rating of “Buy” and an average price target of $43.29.

In other news, insider Mohan Maheswaran sold 2,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.64, for a total value of $89,100.00. Following the transaction, the insider now directly owns 220,372 shares in the company, valued at $7,854,058.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Marc Pegulu sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $38.21, for a total transaction of $38,210.00. The disclosure for this sale can be found here. In the last three months, insiders sold 52,723 shares of company stock worth $2,060,117. Insiders own 2.20% of the company’s stock.

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About Semtech

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.

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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