Kornitzer Capital Management Inc. KS grew its position in shares of Semtech Corporation (NASDAQ:SMTC) by 35.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,020 shares of the semiconductor company’s stock after purchasing an additional 70,020 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.41% of Semtech Corporation worth $10,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Strs Ohio lifted its stake in Semtech Corporation by 22.2% during the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Semtech Corporation by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 65 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Semtech Corporation during the first quarter worth about $144,000. Victory Capital Management Inc. lifted its stake in Semtech Corporation by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 717 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Semtech Corporation by 65.5% during the second quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 2,030 shares during the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.

Shares of Semtech Corporation (NASDAQ:SMTC) opened at $40.40 on Tuesday. Semtech Corporation has a 52 week low of $24.40 and a 52 week high of $41.95. The company has a quick ratio of 2.83, a current ratio of 3.42 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2,670.00, a PE ratio of 34.77, a PEG ratio of 6.22 and a beta of 1.48.

Semtech Corporation (NASDAQ:SMTC) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating 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 analyst estimates of $154.91 million. During the same quarter in the previous year, the company posted $0.35 EPS. Semtech Corporation’s revenue for the quarter was up 12.7% on a year-over-year basis. analysts expect that Semtech Corporation will post 1.23 earnings per share for the current year.

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In other news, EVP Charles B. Ammann sold 2,250 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $40.67, for a total value of $91,507.50. Following the completion of the sale, the executive vice president now owns 14,905 shares of the company’s stock, valued at approximately $606,186.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gary Beauchamp sold 21,666 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $39.84, for a total value of $863,173.44. The disclosure for this sale can be found here. In the last three months, insiders sold 69,267 shares of company stock valued at $2,671,487. 2.20% of the stock is currently owned by corporate insiders.

Several equities research analysts have issued reports on SMTC shares. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $42.00 price target on shares of Semtech Corporation in a research note on Sunday, August 27th. Zacks Investment Research lowered Semtech Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price target on shares of Semtech Corporation in a research note on Thursday, August 31st. B. Riley reaffirmed a “buy” rating and set a $48.00 price target on shares of Semtech Corporation in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $39.00 price target on shares of Semtech Corporation in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Semtech Corporation has an average rating of “Buy” and a consensus price target of $43.50.

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

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