Morgan Stanley lowered its stake in Semtech Corporation (NASDAQ:SMTC) by 52.6% during the first quarter, Holdings Channel reports. The institutional investor owned 130,528 shares of the semiconductor company’s stock after selling 144,967 shares during the period. Morgan Stanley’s holdings in Semtech Corporation were worth $4,411,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Semtech Corporation by 13.9% in the first quarter. FMR LLC now owns 7,252,051 shares of the semiconductor company’s stock valued at $245,119,000 after buying an additional 886,529 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $202,958,000 after buying an additional 320,207 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Semtech Corporation by 40.9% in the first quarter. OppenheimerFunds Inc. now owns 1,600,631 shares of the semiconductor company’s stock valued at $54,102,000 after buying an additional 464,687 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in Semtech Corporation by 7.9% in the first quarter. Stephens Investment Management Group LLC now owns 1,082,257 shares of the semiconductor company’s stock valued at $36,580,000 after buying an additional 79,493 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Semtech Corporation by 40.6% in the first quarter. Loomis Sayles & Co. L P now owns 803,756 shares of the semiconductor company’s stock valued at $27,167,000 after buying an additional 232,245 shares in the last quarter. 94.04% of the stock is currently owned by institutional investors.

Semtech Corporation (SMTC) traded up 1.19% on Friday, reaching $38.20. 312,986 shares of the company traded hands. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 42.54 and a beta of 1.44. Semtech Corporation has a 52-week low of $22.81 and a 52-week high of $41.15. The firm has a 50 day moving average price of $37.71 and a 200 day moving average price of $35.32.

Semtech Corporation (NASDAQ:SMTC) last released its earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Equities research analysts predict that Semtech Corporation will post $1.85 EPS for the current year.

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Several equities research analysts have issued reports on SMTC shares. B. Riley reaffirmed a “buy” rating and set a $44.00 price target on shares of Semtech Corporation in a research note on Sunday, May 21st. Robert W. Baird reiterated an “outperform” rating and set a $45.00 price objective on shares of Semtech Corporation in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Drexel Hamilton increased their price objective on shares of Semtech Corporation from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, June 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a report on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.50.

In related news, VP Emeka Chukwu sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $37.02, for a total value of $74,040.00. Following the completion of the sale, the vice president now owns 77,776 shares of the company’s stock, valued at approximately $2,879,267.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Asaf Silberstein sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $35.48, for a total value of $53,220.00. Following the completion of the sale, the senior vice president now directly owns 32,036 shares of the company’s stock, valued at approximately $1,136,637.28. The disclosure for this sale can be found here. In the last three months, insiders sold 90,088 shares of company stock valued at $3,273,768. 2.10% of the stock is currently owned by company 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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