Deutsche Bank AG reduced its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 37.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,683 shares of the semiconductor company’s stock after selling 135,900 shares during the quarter. Deutsche Bank AG owned 0.34% of Semtech worth $10,304,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SMTC. Oregon Public Employees Retirement Fund purchased a new position in shares of Semtech during the 4th quarter valued at approximately $25,000. Norges Bank purchased a new position in shares of Semtech during the 4th quarter valued at approximately $40,233,000. FMR LLC boosted its stake in shares of Semtech by 16.2% during the 4th quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock valued at $188,717,000 after buying an additional 573,087 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Semtech by 30.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock valued at $127,868,000 after buying an additional 543,325 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Semtech by 150.3% during the 4th quarter. Millennium Management LLC now owns 509,803 shares of the semiconductor company’s stock valued at $23,385,000 after buying an additional 306,116 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.
In other Semtech news, Director James T. Lindstrom sold 5,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $53.96, for a total value of $269,800.00. Following the sale, the director now directly owns 25,000 shares of the company’s stock, valued at $1,349,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Emeka Chukwu sold 1,100 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $51.00, for a total value of $56,100.00. Following the completion of the sale, the chief financial officer now directly owns 84,930 shares in the company, valued at $4,331,430. The disclosure for this sale can be found here. Insiders sold 123,614 shares of company stock worth $6,664,320 over the last ninety days. 2.30% of the stock is owned by corporate insiders.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Semtech had a return on equity of 13.94% and a net margin of 10.05%. The firm had revenue of $160.00 million for the quarter, compared to analysts’ expectations of $158.48 million. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts predict that Semtech Co. will post 1.22 EPS for the current fiscal year.
Several equities analysts have recently commented on the company. ValuEngine cut Semtech from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research cut Semtech from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 19th. B. Riley reduced their price objective on Semtech from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Roth Capital cut Semtech from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Thursday, March 14th. Finally, Loop Capital upgraded Semtech to a “buy” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.00.
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, 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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