Heartland Advisors Inc. Sells 25,000 Shares of Semtech Corporation (SMTC)
Heartland Advisors Inc. cut its position in shares of Semtech Corporation (NASDAQ:SMTC) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,317 shares of the semiconductor company’s stock after selling 25,000 shares during the period. Heartland Advisors Inc. owned about 0.38% of Semtech Corporation worth $8,913,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in Semtech Corporation by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 3,002 shares of the semiconductor company’s stock worth $101,000 after buying an additional 764 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Semtech Corporation by 74.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,299 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,405 shares during the last quarter. Strs Ohio raised its position in Semtech Corporation by 22.2% in the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after buying an additional 600 shares during the last quarter. FNY Partners Fund LP raised its position in Semtech Corporation by 515.4% in the first quarter. FNY Partners Fund LP now owns 4,000 shares of the semiconductor company’s stock worth $135,000 after buying an additional 3,350 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in Semtech Corporation during the first quarter worth about $137,000. 95.09% of the stock is currently owned by institutional investors and hedge funds.
Semtech Corporation (SMTC) opened at 37.60 on Friday. The company’s 50-day moving average price is $38.29 and its 200-day moving average price is $35.70. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 41.87 and a beta of 1.44.
Semtech Corporation (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.95% and a net margin of 11.00%. The firm had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $154.91 million. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Semtech Corporation will post $1.89 EPS for the current year.
A number of research analysts have recently issued reports on SMTC shares. B. Riley reissued a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a report on Tuesday, June 6th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $42.00 target price on shares of Semtech Corporation in a report on Sunday, August 27th. BidaskClub lowered Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Drexel Hamilton boosted their target price on Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, Zacks Investment Research raised Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.50.
In other news, EVP Charles B. Ammann sold 2,250 shares of Semtech Corporation stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $34.99, for a total transaction of $78,727.50. Following the transaction, the executive vice president now directly owns 14,905 shares in the company, valued at approximately $521,525.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark C. Costello sold 897 shares of Semtech Corporation stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $37.81, for a total value of $33,915.57. Following the transaction, the vice president now owns 897 shares in the company, valued at $33,915.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,400 shares of company stock worth $3,180,074. 2.10% of the stock is 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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