Prudential Financial Inc. trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 46.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 67,536 shares of the semiconductor company’s stock after selling 58,495 shares during the quarter. Prudential Financial Inc.’s holdings in Semtech were worth $3,245,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State of Tennessee Treasury Department raised its position in shares of Semtech by 0.5% during the first quarter. State of Tennessee Treasury Department now owns 45,363 shares of the semiconductor company’s stock worth $2,309,000 after purchasing an additional 217 shares during the period. Strs Ohio grew its stake in Semtech by 4.1% in the 2nd quarter. Strs Ohio now owns 7,600 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 300 shares during the period. Creative Planning grew its stake in Semtech by 5.8% in the 2nd quarter. Creative Planning now owns 5,693 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 310 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Semtech by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,487 shares of the semiconductor company’s stock valued at $1,298,000 after purchasing an additional 460 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in Semtech by 3,725.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 596 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

NASDAQ SMTC traded up $0.11 on Monday, reaching $49.00. 5,401 shares of the stock were exchanged, compared to its average volume of 625,316. Semtech Co. has a one year low of $39.54 and a one year high of $60.55. The firm has a market capitalization of $3.21 billion, a PE ratio of 36.79, a PEG ratio of 3.72 and a beta of 1.87. The company’s 50-day simple moving average is $46.18 and its two-hundred day simple moving average is $49.00. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The company had revenue of $137.10 million for the quarter, compared to analysts’ expectations of $134.85 million. During the same quarter last year, the business earned $0.55 EPS. The firm’s revenue was down 16.0% compared to the same quarter last year. Sell-side analysts forecast that Semtech Co. will post 1.08 earnings per share for the current fiscal year.

In other Semtech news, Director Sylvia Summers sold 6,487 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.31, for a total transaction of $300,412.97. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $926,200. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Emeka Chukwu sold 1,100 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.56, for a total transaction of $55,616.00. Following the sale, the chief financial officer now directly owns 104,786 shares of the company’s stock, valued at $5,297,980.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,771 shares of company stock valued at $4,521,495. Insiders own 1.96% of the company’s stock.

Several research analysts have recently weighed in on the company. Oppenheimer cut their price target on Semtech from $60.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. B. Riley cut their price target on Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. ValuEngine raised Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Co restated an “outperformer” rating and set a $60.00 price target (down from $65.00) on shares of Semtech in a research report on Thursday, August 29th. Finally, Cowen cut their price objective on shares of Semtech from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Semtech has an average rating of “Buy” and a consensus price target of $54.45.

Semtech 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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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