Macquarie Group Ltd. reduced its position in shares of Semtech Corp. (NASDAQ:SMTC) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800,423 shares of the company’s stock after selling 22,810 shares during the period. Macquarie Group Ltd. owned about 1.22% of Semtech Corp. worth $19,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SMTC. Frontier Capital Management Co. LLC boosted its position in Semtech Corp. by 36.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,442,524 shares of the company’s stock worth $58,279,000 after buying an additional 648,271 shares in the last quarter. Ngam Advisors L.P. boosted its stake in Semtech Corp. by 15.5% in the second quarter. Ngam Advisors L.P. now owns 31,379 shares of the company’s stock valued at $749,000 after buying an additional 4,202 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Semtech Corp. during the second quarter valued at $265,000. ClariVest Asset Management LLC boosted its stake in Semtech Corp. by 501,328.0% in the second quarter. ClariVest Asset Management LLC now owns 125,357 shares of the company’s stock valued at $2,991,000 after buying an additional 125,332 shares during the period. Finally, Insight Capital Research & Management Inc. purchased a new stake in Semtech Corp. during the second quarter valued at $3,146,000. 96.53% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Semtech Corp. (NASDAQ:SMTC)

Shares of Semtech Corp. (NASDAQ:SMTC) traded up 0.35% during trading on Friday, hitting $28.30. The stock had a trading volume of 113,190 shares. Semtech Corp. has a 52 week low of $15.70 and a 52 week high of $28.45. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 67.22 and a beta of 1.39. The firm has a 50 day moving average price of $25.72 and a 200-day moving average price of $25.07.

Semtech Corp. (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The business had revenue of $135.90 million for the quarter. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Semtech Corp.’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Semtech Corp. will post $1.34 EPS for the current fiscal year.

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A number of research firms recently commented on SMTC. B. Riley reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Semtech Corp. in a research note on Saturday. Drexel Hamilton reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Semtech Corp. in a research note on Saturday, October 8th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. Finally, Zacks Investment Research lowered Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Semtech Corp. currently has an average rating of “Buy” and an average target price of $27.33.

In related news, Director Rockell N. Hankin sold 6,795 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $27.73, for a total value of $188,425.35. Following the sale, the director now directly owns 166,735 shares in the company, valued at $4,623,561.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total value of $83,563.74. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

About Semtech Corp.

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.

5 Day Chart for NASDAQ:SMTC

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