Pacer Advisors Inc. purchased a new stake in Semtech Co. (NASDAQ:SMTC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,700 shares of the semiconductor company’s stock, valued at approximately $1,283,000.

Other institutional investors have also made changes to their positions in the company. State of Tennessee Treasury Department increased its stake in Semtech by 0.5% during the 1st quarter. State of Tennessee Treasury Department now owns 45,363 shares of the semiconductor company’s stock worth $2,309,000 after buying an additional 217 shares in the last quarter. Strs Ohio increased its stake in Semtech by 4.1% during the 2nd quarter. Strs Ohio now owns 7,600 shares of the semiconductor company’s stock worth $365,000 after buying an additional 300 shares in the last quarter. Creative Planning increased its stake in Semtech by 5.8% during the 2nd quarter. Creative Planning now owns 5,693 shares of the semiconductor company’s stock worth $274,000 after buying an additional 310 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Semtech by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,487 shares of the semiconductor company’s stock worth $1,298,000 after buying an additional 460 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Semtech by 3,725.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock worth $31,000 after buying an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

In related news, CFO Emeka Chukwu sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $50.56, for a total value of $55,616.00. Following the transaction, the chief financial officer now directly owns 104,786 shares in the company, valued at $5,297,980.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark C. Costello sold 12,046 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $45.46, for a total value of $547,611.16. Following the completion of the transaction, the vice president now owns 12,041 shares in the company, valued at $547,383.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,771 shares of company stock worth $4,521,495. Insiders own 1.96% of the company’s stock.

Several research firms have commented on SMTC. Oppenheimer cut their price objective on Semtech from $60.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. ValuEngine upgraded Semtech from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Robert W. Baird set a $45.00 price objective on Semtech and gave the stock a “buy” rating in a research note on Monday, August 26th. Cowen cut their price objective on Semtech from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday. Finally, BidaskClub upgraded Semtech from a “strong sell” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.45.

Shares of Semtech stock traded up $0.34 on Friday, hitting $48.63. 8,093 shares of the company were exchanged, compared to its average volume of 649,087. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 3.55 and a beta of 1.87. The company has a 50-day moving average price of $46.26 and a 200 day moving average price of $49.03. Semtech Co. has a 1-year low of $39.54 and a 1-year high of $60.55. The company has a quick ratio of 3.42, a current ratio of 4.10 and a debt-to-equity ratio of 0.27.

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

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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