William Blair Investment Management LLC lessened its stake in Semtech Co. (NASDAQ:SMTC) by 29.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,995 shares of the semiconductor company’s stock after selling 74,815 shares during the period. William Blair Investment Management LLC’s holdings in Semtech were worth $9,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Evoke Wealth LLC purchased a new stake in shares of Semtech during the third quarter valued at about $27,000. NumerixS Investment Technologies Inc boosted its holdings in shares of Semtech by 446.3% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,185 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 1,785 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Semtech in the 4th quarter worth approximately $211,000. Fieldpoint Private Securities LLC grew its position in shares of Semtech by 158.8% in the 4th quarter. Fieldpoint Private Securities LLC now owns 4,459 shares of the semiconductor company’s stock worth $236,000 after buying an additional 2,736 shares during the last quarter. Finally, Oakbrook Investments LLC purchased a new position in shares of Semtech in the 4th quarter worth approximately $243,000. Institutional investors and hedge funds own 96.99% of the company’s stock.
In related news, SVP Sharon K. Faltemier sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $53.20, for a total value of $319,200.00. Following the completion of the transaction, the senior vice president now directly owns 27,276 shares in the company, valued at approximately $1,451,083.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Sharon K. Faltemier sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $53.11, for a total transaction of $398,325.00. Following the completion of the transaction, the senior vice president now owns 40,776 shares of the company’s stock, valued at $2,165,613.36. The disclosure for this sale can be found here. Insiders sold 34,500 shares of company stock worth $1,813,615 in the last quarter. Company insiders own 1.96% of the company’s stock.
Shares of NASDAQ:SMTC traded down $1.05 on Thursday, hitting $32.73. 124,435 shares of the company were exchanged, compared to its average volume of 589,431. The firm has a market capitalization of $2.43 billion, a P/E ratio of 44.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.94. The company has a current ratio of 4.35, a quick ratio of 3.66 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $46.52 and its 200 day moving average price is $48.74. Semtech Co. has a 1-year low of $32.81 and a 1-year high of $56.13.
Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, March 11th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Semtech had a net margin of 8.71% and a return on equity of 10.64%. The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $134.21 million. During the same quarter in the prior year, the company earned $0.55 EPS. Semtech’s quarterly revenue was down 13.7% on a year-over-year basis. On average, equities analysts predict that Semtech Co. will post 0.97 EPS for the current fiscal year.
A number of equities research analysts recently commented on the stock. Oppenheimer reissued a “buy” rating and set a $52.00 target price on shares of Semtech in a research report on Wednesday, November 27th. Zacks Investment Research raised shares of Semtech from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Tuesday, February 4th. Needham & Company LLC raised Semtech from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday. Royal Bank of Canada decreased their price objective on Semtech from to in a report on Tuesday. Finally, BidaskClub cut Semtech from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.00.
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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