Capital One National Association acquired a new position in Semtech Corporation (NASDAQ:SMTC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,369 shares of the semiconductor company’s stock, valued at approximately $657,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. BlackRock Inc. increased its position in Semtech Corporation by 32,758.7% in the first quarter. BlackRock Inc. now owns 8,382,260 shares of the semiconductor company’s stock worth $283,320,000 after buying an additional 8,356,750 shares in the last quarter. FMR LLC increased its position in Semtech Corporation by 13.9% in the first quarter. FMR LLC now owns 7,252,051 shares of the semiconductor company’s stock worth $245,119,000 after buying an additional 886,529 shares in the last quarter. Norges Bank bought a new position in Semtech Corporation during the fourth quarter worth $23,371,000. OppenheimerFunds Inc. increased its position in Semtech Corporation by 40.9% in the first quarter. OppenheimerFunds Inc. now owns 1,600,631 shares of the semiconductor company’s stock worth $54,102,000 after buying an additional 464,687 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Semtech Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,004,655 shares of the semiconductor company’s stock worth $202,958,000 after buying an additional 320,207 shares in the last quarter. Institutional investors and hedge funds own 94.04% of the company’s stock.
Semtech Corporation (NASDAQ SMTC) traded down 1.66% during trading on Tuesday, reaching $38.55. The company’s stock had a trading volume of 810,344 shares. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.15. The stock’s 50 day moving average is $37.31 and its 200 day moving average is $35.10. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 42.93 and a beta of 1.44.
Semtech Corporation (NASDAQ:SMTC) last posted its earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $149.10 million for the quarter, compared to analysts’ expectations of $145.60 million. Semtech Corporation had a return on equity of 12.16% and a net margin of 10.70%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. On average, equities analysts expect that Semtech Corporation will post $1.85 EPS for the current fiscal year.
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A number of research firms have recently issued reports on SMTC. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Semtech Corporation in a research report on Sunday, May 21st. Robert W. Baird reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research report on Tuesday, June 13th. Zacks Investment Research raised Semtech Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Drexel Hamilton raised their price objective on Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Semtech Corporation in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.50.
In other Semtech Corporation news, EVP Charles B. Ammann sold 2,250 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.89, for a total value of $89,752.50. Following the sale, the executive vice president now directly owns 14,905 shares in the company, valued at $594,560.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Emeka Chukwu sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.89, for a total value of $79,780.00. Following the completion of the sale, the chief financial officer now owns 77,776 shares in the company, valued at $3,102,484.64. The disclosure for this sale can be found here. Insiders sold 90,088 shares of company stock worth $3,273,768 over the last quarter. 2.20% of the stock is currently owned by company insiders.
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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