Comerica Bank Trims Stake in Semtech Co. (SMTC)

Comerica Bank reduced its position in shares of Semtech Co. (NASDAQ:SMTC) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,131 shares of the semiconductor company’s stock after selling 5,732 shares during the period. Comerica Bank’s holdings in Semtech were worth $3,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in shares of Semtech during the second quarter worth about $124,000. NumerixS Investment Technologies Inc bought a new stake in Semtech in the second quarter valued at approximately $160,000. CIBC Asset Management Inc bought a new stake in Semtech in the second quarter valued at approximately $215,000. Everence Capital Management Inc. bought a new stake in Semtech in the second quarter valued at approximately $222,000. Finally, TRUE Private Wealth Advisors bought a new stake in Semtech in the third quarter valued at approximately $222,000. Institutional investors own 98.21% of the company’s stock.

Several analysts recently commented on SMTC shares. Roth Capital set a $63.00 target price on Semtech and gave the company a “buy” rating in a report on Monday, October 8th. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a report on Friday, November 16th. ValuEngine upgraded Semtech from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $57.00 target price on shares of Semtech in a report on Monday, August 27th. Finally, Stifel Nicolaus upped their target price on Semtech from $60.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.55.

In other Semtech news, VP Simon A. Brown sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $59.01, for a total transaction of $118,020.00. Following the transaction, the vice president now directly owns 17,193 shares in the company, valued at approximately $1,014,558.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP James Jungsup Kim sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $43.96, for a total value of $109,900.00. Following the transaction, the senior vice president now owns 44,925 shares in the company, valued at $1,974,903. The disclosure for this sale can be found here. Insiders have sold a total of 41,386 shares of company stock worth $2,398,867 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Semtech stock opened at $45.44 on Friday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 5.68 and a beta of 1.68. Semtech Co. has a 52-week low of $31.30 and a 52-week high of $60.55. The company has a current ratio of 4.13, a quick ratio of 3.62 and a debt-to-equity ratio of 0.29.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $163.20 million for the quarter, compared to analysts’ expectations of $161.21 million. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. As a group, sell-side analysts forecast that Semtech Co. will post 1.56 EPS for the current year.

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Semtech Company 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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