ClariVest Asset Management LLC decreased its position in shares of Semtech Corporation (NASDAQ:SMTC) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,711 shares of the semiconductor company’s stock after selling 92 shares during the period. ClariVest Asset Management LLC’s holdings in Semtech Corporation were worth $4,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in 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. 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. Fisher Asset Management LLC increased its position in Semtech Corporation by 409.3% in the second quarter. Fisher Asset Management LLC now owns 407,323 shares of the semiconductor company’s stock worth $14,562,000 after buying an additional 327,351 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 94.21% of the company’s stock.

Semtech Corporation (NASDAQ:SMTC) opened at 38.35 on Tuesday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 42.71 and a beta of 1.44. The company has a 50-day moving average of $37.78 and a 200-day moving average of $35.38. Semtech Corporation has a 1-year low of $22.81 and a 1-year high of $41.15.

Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The business had revenue of $149.10 million for the quarter, compared to analyst estimates of $145.60 million. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts predict that Semtech Corporation will post $1.85 earnings per share for the current year.

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SMTC has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Royal Bank Of Canada restated a “hold” rating and set a $39.00 price target on shares of Semtech Corporation in a report on Thursday, July 6th. Drexel Hamilton raised their price target on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Robert W. Baird initiated coverage on shares of Semtech Corporation in a report on Tuesday, May 9th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, B. Riley restated a “buy” rating and set a $44.00 price target on shares of Semtech Corporation in a report on Sunday, May 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.50.

In other news, EVP Charles B. Ammann sold 2,250 shares of the business’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 $89,752.50. Following the sale, the executive vice president now owns 14,905 shares of the company’s stock, valued at $594,560.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Emeka Chukwu sold 800 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.49, for a total transaction of $28,392.00. Following the completion of the sale, the chief financial officer now directly owns 76,576 shares in the company, valued at approximately $2,717,682.24. The disclosure for this sale can be found here. In the last three months, insiders sold 88,003 shares of company stock worth $3,197,993. 2.20% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Semtech Corporation (NASDAQ:SMTC)

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