The Manufacturers Life Insurance Company lowered its holdings in Semtech Co. (NASDAQ:SMTC – Get Rating) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,728 shares of the semiconductor company's stock after selling 2,097 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Semtech worth $2,198,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fifth Third Bancorp grew its position in Semtech by 224.4% during the third quarter. Fifth Third Bancorp now owns 837 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 579 shares during the period. Private Trust Co. NA purchased a new stake in Semtech during the second quarter valued at about $26,000. CWM LLC grew its position in Semtech by 130.3% during the second quarter. CWM LLC now owns 585 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 331 shares during the period. Neo Ivy Capital Management purchased a new stake in Semtech during the second quarter valued at about $41,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Semtech by 33.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,232 shares of the semiconductor company's stock valued at $68,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 96.32% of the company's stock.
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Semtech Trading Down 2.2 %
NASDAQ:SMTC opened at $33.99 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.17 and a current ratio of 5.96. Semtech Co. has a one year low of $25.29 and a one year high of $74.11. The business's 50-day simple moving average is $30.18 and its 200 day simple moving average is $35.34. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.69.
Semtech (NASDAQ:SMTC – Get Rating) last released its earnings results on Wednesday, November 30th. The semiconductor company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. The company had revenue of $177.62 million for the quarter, compared to the consensus estimate of $176.03 million. Semtech had a return on equity of 21.15% and a net
margin of 18.88%. As a group, sell-side analysts predict that Semtech Co. will post 2.3 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SMTC has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Semtech from $45.00 to $40.00 in a research report on Tuesday, November 22nd. Benchmark reduced their price objective on Semtech from $65.00 to $45.00 in a research note on Thursday, December 1st. Cowen reduced their price objective on Semtech from $43.00 to $33.00 in a research note on Thursday, December 1st. StockNews.com cut Semtech from a "buy" rating to a "hold" rating in a research note on Friday, December 2nd. Finally, Susquehanna Bancshares reduced their price objective on Semtech to $34.00 in a research note on Monday, November 28th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Semtech currently has an average rating of "Hold" and an average target price of $49.08.
Semtech Company Profile
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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.
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