Bank of New York Mellon Corp grew its holdings in Semtech Co. (NASDAQ:SMTC) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,756,434 shares of the semiconductor company’s stock after purchasing an additional 118,194 shares during the period. Bank of New York Mellon Corp owned approximately 2.65% of Semtech worth $82,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank raised its position in shares of Semtech by 12.0% in the second quarter. Amalgamated Bank now owns 10,549 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 1,133 shares during the period. Victory Capital Management Inc. raised its position 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 period. Scout Investments Inc. raised its position in shares of Semtech by 0.7% in the second quarter. Scout Investments Inc. now owns 161,472 shares of the semiconductor company’s stock valued at $7,597,000 after purchasing an additional 1,198 shares during the period. Piedmont Investment Advisors LLC raised its position in shares of Semtech by 8.6% in the second quarter. Piedmont Investment Advisors LLC now owns 15,404 shares of the semiconductor company’s stock valued at $725,000 after purchasing an additional 1,220 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in shares of Semtech by 16.3% in the second quarter. Xact Kapitalforvaltning AB now owns 9,988 shares of the semiconductor company’s stock valued at $470,000 after purchasing an additional 1,400 shares during the period. 96.77% of the stock is currently owned by institutional investors.

SMTC stock opened at $46.73 on Friday. 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 one year low of $31.30 and a one year high of $60.55. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 6.25 and a beta of 1.68.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Semtech had a net margin of 8.48% and a return on equity of 12.66%. The business had revenue of $163.20 million during the quarter, compared to analysts’ expectations of $161.21 million. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts forecast 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 the business’s stock in a transaction that occurred 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 approximately $3,290,520. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $59.20, for a total transaction of $118,400.00. Following the completion of the transaction, the senior vice president now directly owns 41,897 shares of the company’s stock, valued at approximately $2,480,302.40. The disclosure for this sale can be found here. In the last three months, insiders sold 38,886 shares of company stock valued at $2,288,967. Corporate insiders own 2.30% of the company’s stock.

Several brokerages recently commented on SMTC. Needham & Company LLC cut shares of Semtech from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research note on Tuesday, September 4th. Zacks Investment Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, September 18th. ValuEngine raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 12th. BidaskClub raised shares of Semtech from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Oppenheimer boosted their price objective on shares of Semtech from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $59.55.

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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, 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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