Mesirow Financial Investment Management Equity Management lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 223,215 shares of the semiconductor company’s stock after acquiring an additional 21,330 shares during the quarter. Semtech accounts for about 1.4% of Mesirow Financial Investment Management Equity Management’s investment portfolio, making the stock its 24th biggest position. Mesirow Financial Investment Management Equity Management owned approximately 0.34% of Semtech worth $10,239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SMTC. Bank of New York Mellon Corp increased its position in shares of Semtech by 30.9% during the third quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock worth $127,868,000 after acquiring an additional 543,325 shares during the last quarter. BlackRock Inc. increased its holdings in Semtech by 4.0% in the third quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock valued at $528,088,000 after buying an additional 363,609 shares during the last quarter. Emerald Advisers Inc. PA bought a new stake in Semtech in the third quarter valued at about $18,175,000. Emerald Mutual Fund Advisers Trust bought a new stake in Semtech in the third quarter valued at about $16,856,000. Finally, Morgan Stanley increased its holdings in Semtech by 119.4% in the third quarter. Morgan Stanley now owns 517,181 shares of the semiconductor company’s stock valued at $28,757,000 after buying an additional 281,404 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SMTC opened at $49.52 on Monday. The company has a market cap of $3.26 billion, a PE ratio of 35.37, a P/E/G ratio of 2.21 and a beta of 1.65. Semtech Co. has a 52 week low of $31.30 and a 52 week high of $60.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.03 and a quick ratio of 3.53.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, November 28th. The semiconductor company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $173.60 million during the quarter, compared to analyst estimates of $173.06 million. Semtech had a return on equity of 14.23% and a net margin of 7.97%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. Equities research analysts anticipate that Semtech Co. will post 1.56 EPS for the current year.

Several brokerages recently weighed in on SMTC. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a report on Friday, February 1st. Susquehanna Bancshares began coverage on Semtech in a report on Friday, December 7th. They issued a “neutral” rating and a $54.00 price objective for the company. Roth Capital set a $62.00 price objective on Semtech and gave the company a “buy” rating in a report on Thursday, November 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Semtech in a report on Thursday, November 29th. Finally, B. Riley reissued a “buy” rating and issued a $61.00 price objective (up from $58.00) on shares of Semtech in a report on Thursday, November 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $59.82.

In other news, insider Mohan Maheswaran sold 53,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $52.49, for a total transaction of $2,781,970.00. Following the completion of the transaction, the insider now directly owns 137,982 shares of the company’s stock, valued at $7,242,675.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James Jungsup Kim sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $43.96, for a total value of $109,900.00. Following the transaction, the senior vice president now directly owns 44,925 shares of the company’s stock, valued at $1,974,903. The disclosure for this sale can be found here. Insiders have sold 169,040 shares of company stock valued at $8,343,343 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

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About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

Further Reading: Rule of 72

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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