Panagora Asset Management Inc. grew its position in Semtech Co. (NASDAQ:SMTC) by 399.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 117,931 shares of the semiconductor company’s stock after buying an additional 94,308 shares during the quarter. Panagora Asset Management Inc.’s holdings in Semtech were worth $6,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of Semtech in the second quarter valued at approximately $124,000. Acadian Asset Management LLC acquired a new stake in shares of Semtech in the second quarter valued at approximately $1,309,000. Aperio Group LLC increased its holdings in shares of Semtech by 14.9% in the second quarter. Aperio Group LLC now owns 22,036 shares of the semiconductor company’s stock valued at $1,037,000 after purchasing an additional 2,852 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Semtech by 688.5% in the second quarter. First Trust Advisors LP now owns 59,100 shares of the semiconductor company’s stock valued at $2,781,000 after purchasing an additional 51,605 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Semtech by 1.9% in the second quarter. Victory Capital Management Inc. now owns 64,019 shares of the semiconductor company’s stock valued at $3,012,000 after purchasing an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Semtech from a “hold” rating to a “sell” rating in a report on Monday. Roth Capital set a $62.00 price target on Semtech and gave the stock a “buy” rating in a research report on Thursday, November 29th. Royal Bank of Canada restated an “outperform” rating and set a $55.00 price target on shares of Semtech in a research report on Thursday, November 29th. B. Riley restated a “buy” rating and set a $61.00 price target (up from $58.00) on shares of Semtech in a research report on Thursday, November 29th. Finally, Piper Jaffray Companies raised their price target on Semtech from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, November 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.40.

In related news, insider Mohan Maheswaran sold 53,000 shares of Semtech stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $52.49, for a total value of $2,781,970.00. Following the completion of the transaction, the insider now directly owns 137,982 shares in the company, valued at $7,242,675.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James Jungsup Kim sold 8,617 shares of Semtech stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $60.00, for a total value of $517,020.00. Following the completion of the transaction, the senior vice president now owns 54,842 shares of the company’s stock, valued at $3,290,520. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,995 shares of company stock valued at $4,290,572. 2.30% of the stock is currently owned by company insiders.

SMTC opened at $50.04 on Thursday. Semtech Co. has a 52 week low of $31.30 and a 52 week high of $60.55. The firm has a market cap of $3.29 billion, a PE ratio of 35.74, a PEG ratio of 2.55 and a beta of 1.75. The company has a quick ratio of 3.53, a current ratio of 4.03 and a debt-to-equity ratio of 0.28.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 28th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The firm 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%. Semtech’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. Equities research analysts predict that Semtech Co. will post 1.57 earnings per share for the current fiscal year.

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Semtech Company Profile

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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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