Semtech Co. (SMTC) Stake Decreased by Bradley Foster & Sargent Inc. CT

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Bradley Foster & Sargent Inc. CT cut its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 13.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,523 shares of the semiconductor company’s stock after selling 4,705 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Semtech were worth $1,753,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Aperio Group LLC grew its stake in Semtech by 14.9% in the second quarter. Aperio Group LLC now owns 22,036 shares of the semiconductor company’s stock worth $1,037,000 after purchasing an additional 2,852 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Semtech by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 407,349 shares of the semiconductor company’s stock worth $19,166,000 after purchasing an additional 14,920 shares in the last quarter. American Century Companies Inc. grew its stake in Semtech by 98.6% in the second quarter. American Century Companies Inc. now owns 223,208 shares of the semiconductor company’s stock worth $10,502,000 after purchasing an additional 110,836 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Semtech by 4.5% in the second quarter. Stephens Investment Management Group LLC now owns 1,269,062 shares of the semiconductor company’s stock worth $59,709,000 after purchasing an additional 55,141 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in Semtech by 166.8% in the second quarter. Verition Fund Management LLC now owns 14,680 shares of the semiconductor company’s stock worth $691,000 after purchasing an additional 9,178 shares in the last quarter. Institutional investors own 96.45% of the company’s stock.

Shares of SMTC stock opened at $44.94 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.13 and a quick ratio of 3.62. Semtech Co. has a 52 week low of $31.30 and a 52 week high of $60.55. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 5.53 and a beta of 1.52.

Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The company had revenue of $163.20 million during the quarter, compared to the consensus estimate of $161.21 million. During the same period in the previous year, the firm posted $0.48 earnings per share. Semtech’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that Semtech Co. will post 1.56 earnings per share for the current fiscal year.

In other Semtech news, SVP James Jungsup Kim sold 8,617 shares of Semtech stock in a transaction that occurred on Tuesday, September 18th. The stock was 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 directly owns 54,842 shares in the company, valued at $3,290,520. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rockell N. Hankin sold 2,928 shares of Semtech stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $57.30, for a total value of $167,774.40. Following the completion of the transaction, the director now owns 157,868 shares of the company’s stock, valued at $9,045,836.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,886 shares of company stock valued at $2,288,967. 2.30% of the stock is currently owned by insiders.

SMTC has been the subject of a number of research reports. BidaskClub upgraded Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Stifel Nicolaus initiated coverage on Semtech in a research note on Friday, July 20th. They issued a “buy” rating and a $60.00 price target for the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $57.00 price target on shares of Semtech in a research note on Monday, August 27th. Royal Bank of Canada lifted their price target on Semtech to $55.00 and gave the stock an “outperform” rating in a research note on Monday, August 27th. Finally, Needham & Company LLC lifted their price target on Semtech from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $59.55.

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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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