Trexquant Investment LP lessened its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 45.6% during the 1st quarter, HoldingsChannel reports. The fund owned 22,343 shares of the semiconductor company’s stock after selling 18,708 shares during the period. Trexquant Investment LP’s holdings in Semtech were worth $1,137,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Semtech by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,824 shares of the semiconductor company’s stock valued at $3,604,000 after buying an additional 9,237 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Semtech by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after buying an additional 122,945 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Semtech by 223.4% during the 4th quarter. Bank of Montreal Can now owns 8,283 shares of the semiconductor company’s stock valued at $381,000 after buying an additional 5,722 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Semtech by 44.7% during the 4th quarter. IFP Advisors Inc now owns 1,010 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 312 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Semtech by 4.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,343 shares of the semiconductor company’s stock valued at $474,000 after buying an additional 480 shares during the last quarter. 96.45% of the stock is currently owned by institutional investors.

In other news, EVP James Jungsup Kim sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $43.81, for a total transaction of $1,314,300.00. Following the completion of the transaction, the executive vice president now directly owns 81,854 shares in the company, valued at $3,586,023.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Emeka Chukwu sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $52.00, for a total value of $57,200.00. Following the transaction, the chief financial officer now owns 128,986 shares of the company’s stock, valued at $6,707,272. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,514 shares of company stock valued at $7,645,374. Corporate insiders own 1.96% of the company’s stock.

Several brokerages have recently issued reports on SMTC. Wells Fargo & Co began coverage on Semtech in a report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price target for the company. Zacks Investment Research upgraded Semtech from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 14th. BidaskClub lowered Semtech from a “hold” rating to a “sell” rating in a report on Friday, May 10th. B. Riley boosted their target price on Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Cowen initiated coverage on Semtech in a report on Tuesday, May 21st. They issued an “outperform” rating and a $56.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $56.54.

SMTC opened at $43.32 on Friday. Semtech Co. has a twelve month low of $39.54 and a twelve month high of $60.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 3.71. The company has a market capitalization of $2.89 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.14 and a beta of 1.81.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.16. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The firm had revenue of $131.40 million during the quarter, compared to analyst estimates of $130.40 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. Equities analysts expect that Semtech Co. will post 1.15 earnings per share for the current year.

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Semtech Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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