Bank of Montreal Can reduced its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,972 shares of the semiconductor company’s stock after selling 6,816 shares during the period. Bank of Montreal Can owned about 0.06% of Semtech worth $1,264,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in SMTC. The Manufacturers Life Insurance Company grew its holdings in Semtech by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after acquiring an additional 186 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Semtech by 8.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,901 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 866 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Semtech by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock worth $975,000 after acquiring an additional 1,700 shares in the last quarter. Rhumbline Advisers grew its holdings in Semtech by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 130,593 shares of the semiconductor company’s stock worth $4,904,000 after acquiring an additional 2,421 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Semtech by 9.9% during the 2nd quarter. Voya Investment Management LLC now owns 29,685 shares of the semiconductor company’s stock worth $1,061,000 after acquiring an additional 2,680 shares in the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Mohan Maheswaran sold 22,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.63, for a total value of $717,860.00. Following the completion of the transaction, the insider now owns 196,872 shares in the company, valued at approximately $6,423,933.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Charles B. Ammann sold 2,250 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $34.31, for a total transaction of $77,197.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,784 shares of company stock valued at $2,512,405. Company insiders own 2.10% of the company’s stock.
Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $155.69 million. During the same quarter in the prior year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts expect that Semtech Co. will post 1.21 earnings per share for the current year.
SMTC has been the subject of several analyst reports. Zacks Investment Research cut shares of Semtech from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. Oppenheimer reiterated a “buy” rating and set a $42.00 price target on shares of Semtech in a report on Sunday, November 19th. Piper Jaffray Companies initiated coverage on shares of Semtech in a report on Monday, December 18th. They set a “neutral” rating and a $35.00 price target for the company. BWS Financial initiated coverage on shares of Semtech in a report on Monday, November 20th. They set a “buy” rating and a $49.00 price target for the company. Finally, B. Riley reiterated a “buy” rating and set a $46.00 price target (down previously from $48.00) on shares of Semtech in a report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $41.90.
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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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