Great West Life Assurance Co. Can Boosts Holdings in Semtech Co. (SMTC)

Great West Life Assurance Co. Can lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 6.2% in the fourth quarter, Holdings Channel reports. The fund owned 87,213 shares of the semiconductor company’s stock after acquiring an additional 5,068 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Semtech were worth $3,692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SMTC. Oregon Public Employees Retirement Fund bought a new stake in Semtech in the fourth quarter worth approximately $25,000. Bank of New York Mellon Corp increased its holdings in Semtech by 30.9% in the third quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock worth $127,868,000 after purchasing an additional 543,325 shares in the last quarter. BlackRock Inc. increased its holdings in Semtech by 4.0% in the third quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock worth $528,088,000 after purchasing an additional 363,609 shares in the last quarter. Morgan Stanley increased its holdings in Semtech by 119.4% in the third quarter. Morgan Stanley now owns 517,181 shares of the semiconductor company’s stock worth $28,757,000 after purchasing an additional 281,404 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Semtech by 942,042.9% in the third quarter. Clearbridge Investments LLC now owns 263,800 shares of the semiconductor company’s stock worth $14,667,000 after purchasing an additional 263,772 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.

SMTC has been the subject of a number of research analyst reports. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Piper Jaffray Companies raised their price objective on Semtech from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, November 29th. B. Riley reissued a “buy” rating and issued a $61.00 price objective (up previously from $58.00) on shares of Semtech in a research note on Thursday, November 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Semtech in a research note on Thursday, November 29th. Finally, Roth Capital set a $62.00 price objective on Semtech and gave the company a “buy” rating in a research note on Thursday, November 29th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $59.00.

Shares of Semtech stock opened at $54.37 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28. Semtech Co. has a 52 week low of $37.60 and a 52 week high of $60.55. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.45 and a beta of 1.67.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, March 13th. The semiconductor company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The firm had revenue of $160.00 million during the quarter, compared to analysts’ expectations of $158.48 million. Semtech had a return on equity of 13.94% and a net margin of 10.05%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, research analysts predict that Semtech Co. will post 1.79 EPS for the current year.

In related news, SVP Asaf Silberstein sold 4,000 shares of Semtech stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $50.43, for a total transaction of $201,720.00. Following the transaction, the senior vice president now owns 37,897 shares of the company’s stock, valued at $1,911,145.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Michael Wilson sold 5,000 shares of Semtech stock in a transaction that occurred on Monday, December 31st. The shares were sold at an average price of $45.52, for a total value of $227,600.00. Following the transaction, the executive vice president now directly owns 77,419 shares in the company, valued at approximately $3,524,112.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,300 shares of company stock worth $2,516,512. 2.30% of the stock is owned by insiders.

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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.

Further Reading: SEC Filing

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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