Ramsey Quantitative Systems acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,149 shares of the semiconductor company’s stock, valued at approximately $649,000. Semtech Corporation accounts for about 0.7% of Ramsey Quantitative Systems’ portfolio, making the stock its 8th largest holding.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Semtech Corporation by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 65 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Semtech Corporation by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock valued at $958,000 after acquiring an additional 100 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in Semtech Corporation by 1.0% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Semtech Corporation by 2.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock valued at $228,000 after acquiring an additional 150 shares in the last quarter. Finally, Martingale Asset Management L P increased its position in Semtech Corporation by 0.3% in the 1st quarter. Martingale Asset Management L P now owns 67,624 shares of the semiconductor company’s stock valued at $2,286,000 after acquiring an additional 198 shares in the last quarter. 94.42% of the stock is owned by institutional investors.

In related news, insider Mohan Maheswaran sold 2,500 shares of Semtech Corporation stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $35.64, for a total value of $89,100.00. Following the completion of the sale, the insider now owns 220,372 shares of the company’s stock, valued at approximately $7,854,058.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Mark C. Costello sold 897 shares of Semtech Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $36.27, for a total value of $32,534.19. The disclosure for this sale can be found here. Insiders have sold a total of 51,294 shares of company stock worth $1,898,842 over the last quarter. Company insiders own 2.10% of the company’s stock.

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Several brokerages have recently commented on SMTC. Robert W. Baird reiterated an “outperform” rating and set a $45.00 price target on shares of Semtech Corporation in a research report on Thursday, June 1st. B. Riley reiterated a “buy” rating and set a $48.00 price target on shares of Semtech Corporation in a research report on Sunday, September 3rd. Zacks Investment Research cut shares of Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Royal Bank Of Canada restated a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a report on Thursday, July 6th. Finally, Drexel Hamilton boosted their price objective on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Semtech Corporation presently has an average rating of “Buy” and a consensus price target of $43.50.

Shares of Semtech Corporation (SMTC) traded up 1.00% during trading on Friday, reaching $35.40. 250,948 shares of the company were exchanged. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The firm’s 50 day moving average price is $37.21 and its 200 day moving average price is $35.86. The company has a market capitalization of $2.34 billion, a PE ratio of 37.42 and a beta of 1.45.

Semtech Corporation (NASDAQ:SMTC) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $154.91 million. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. Equities research analysts forecast that Semtech Corporation will post $1.89 earnings per share for the current fiscal year.

About Semtech Corporation

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

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Institutional Ownership by Quarter for Semtech Corporation (NASDAQ:SMTC)

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