Semtech Co. (NASDAQ:SMTC) Shares Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC raised its stake in shares of Semtech Co. (NASDAQ:SMTC) by 85.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,329 shares of the semiconductor company’s stock after purchasing an additional 2,912 shares during the quarter. Bridgefront Capital LLC’s holdings in Semtech were worth $435,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ameritas Investment Company LLC acquired a new position in Semtech during the 1st quarter valued at approximately $51,000. Mackenzie Financial Corp acquired a new position in Semtech during the 2nd quarter valued at approximately $203,000. Teza Capital Management LLC acquired a new stake in shares of Semtech in the second quarter worth $230,000. Centaurus Financial Inc. acquired a new stake in shares of Semtech in the second quarter worth $255,000. Finally, Ethic Inc. increased its stake in shares of Semtech by 25.9% in the first quarter. Ethic Inc. now owns 3,898 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 802 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

In related news, CEO Mohan Maheswaran sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $62.73, for a total transaction of $1,254,600.00. Following the completion of the sale, the chief executive officer now directly owns 229,210 shares in the company, valued at $14,378,343.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael W. Rodensky sold 2,779 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $77.63, for a total transaction of $215,733.77. Following the sale, the vice president now owns 5,585 shares of the company’s stock, valued at $433,563.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,586 shares of company stock valued at $3,975,478. 1.30% of the stock is owned by company insiders.

SMTC has been the topic of a number of research reports. TheStreet upgraded shares of Semtech from a “c+” rating to a “b-” rating in a research note on Friday, June 25th. Roth Capital raised shares of Semtech from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $83.00 in a report on Thursday, June 3rd. Oppenheimer increased their price target on shares of Semtech from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 2nd. Needham & Company LLC increased their price target on shares of Semtech from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Finally, Susquehanna Bancshares reissued a “hold” rating and set a $71.00 price target on shares of Semtech in a report on Monday, August 30th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $79.55.

NASDAQ:SMTC opened at $81.44 on Friday. The company’s 50-day moving average price is $68.69 and its 200-day moving average price is $67.28. The company has a current ratio of 4.17, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25. The company has a market cap of $5.24 billion, a P/E ratio of 59.01, a P/E/G ratio of 3.22 and a beta of 1.65. Semtech Co. has a twelve month low of $49.26 and a twelve month high of $83.94.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, August 31st. The semiconductor company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $185.00 million for the quarter, compared to the consensus estimate of $182.89 million. Semtech had a net margin of 13.44% and a return on equity of 14.21%. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. On average, analysts expect that Semtech Co. will post 1.84 earnings per share for the current year.

About Semtech

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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