UBS Asset Management Americas Inc. Has $16.42 Million Holdings in Semtech Corporation (SMTC)
UBS Asset Management Americas Inc. reduced its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,153 shares of the semiconductor company’s stock after selling 38,701 shares during the quarter. UBS Asset Management Americas Inc. owned 0.70% of Semtech Corporation worth $16,415,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Quantitative Investment Management LLC acquired a new position in Semtech Corporation during the second quarter worth $311,000. New York State Common Retirement Fund boosted its stake in shares of Semtech Corporation by 17.1% in the 2nd quarter. New York State Common Retirement Fund now owns 279,744 shares of the semiconductor company’s stock valued at $10,001,000 after purchasing an additional 40,814 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Semtech Corporation by 7.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 39,620 shares of the semiconductor company’s stock valued at $1,416,000 after purchasing an additional 2,610 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Semtech Corporation by 5.8% in the 2nd quarter. Profund Advisors LLC now owns 25,653 shares of the semiconductor company’s stock valued at $917,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Semtech Corporation in the 2nd quarter valued at $1,466,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.
SMTC has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $39.00 target price on shares of Semtech Corporation in a report on Tuesday. B. Riley reissued a “buy” rating and set a $48.00 price target on shares of Semtech Corporation in a report on Tuesday, June 6th. BidaskClub downgraded shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Robert W. Baird restated an “outperform” rating and issued a $45.00 price target on shares of Semtech Corporation in a research report on Tuesday, June 13th. Finally, Drexel Hamilton restated a “buy” rating and issued a $45.00 price target on shares of Semtech Corporation in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $43.50.
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In other news, VP Mark C. Costello sold 897 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $37.81, for a total value of $33,915.57. Following the completion of the transaction, the vice president now owns 897 shares of the company’s stock, valued at $33,915.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Asaf Silberstein sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $36.50, for a total transaction of $36,500.00. Following the completion of the sale, the senior vice president now owns 33,036 shares in the company, valued at $1,205,814. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,244 shares of company stock valued at $1,683,872. 2.20% of the stock is owned by corporate insiders.
Semtech Corporation (NASDAQ SMTC) opened at 38.20 on Tuesday. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.15. The firm has a market cap of $2.53 billion, a P/E ratio of 40.38 and a beta of 1.45. The company’s 50-day moving average is $37.21 and its 200 day moving average is $36.01.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The company had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $154.91 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Semtech Corporation’s revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Semtech Corporation will post $1.89 EPS for the current fiscal year.
Semtech Corporation Company Profile
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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