Semtech Co. (SMTC) Holdings Decreased by Jennison Associates LLC

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Jennison Associates LLC decreased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 59.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,812 shares of the semiconductor company’s stock after selling 19,964 shares during the quarter. Jennison Associates LLC’s holdings in Semtech were worth $650,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Semtech by 3.3% during the 1st quarter. BlackRock Inc. now owns 8,584,787 shares of the semiconductor company’s stock worth $335,237,000 after purchasing an additional 276,394 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Semtech by 51.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 3,722,826 shares of the semiconductor company’s stock worth $145,376,000 after purchasing an additional 1,257,431 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Semtech by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,176 shares of the semiconductor company’s stock worth $63,034,000 after purchasing an additional 33,456 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of Semtech by 4,098.9% during the 1st quarter. Summit Trail Advisors LLC now owns 1,232,755 shares of the semiconductor company’s stock worth $1,233,000 after purchasing an additional 1,203,396 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Semtech by 1.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,213,921 shares of the semiconductor company’s stock worth $47,404,000 after purchasing an additional 12,447 shares during the last quarter. 97.59% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the company. B. Riley boosted their price target on Semtech from $57.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st. BidaskClub lowered Semtech from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. BWS Financial boosted their price target on Semtech from $40.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Semtech in a research report on Thursday, May 31st. Finally, Oppenheimer boosted their price target on Semtech from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.10.

In related news, EVP Gary Beauchamp sold 24,029 shares of the business’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $46.87, for a total value of $1,126,239.23. Following the completion of the sale, the executive vice president now directly owns 24,029 shares in the company, valued at approximately $1,126,239.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $50.62, for a total value of $126,550.00. Following the completion of the sale, the insider now owns 154,465 shares of the company’s stock, valued at $7,819,018.30. The disclosure for this sale can be found here. Insiders have sold a total of 311,453 shares of company stock worth $15,434,742 over the last three months. 2.30% of the stock is owned by insiders.

SMTC stock opened at $48.55 on Friday. The company has a current ratio of 4.09, a quick ratio of 3.51 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.30 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 8.82 and a beta of 1.37. Semtech Co. has a 1-year low of $31.30 and a 1-year high of $51.95.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $151.90 million for the quarter, compared to analyst estimates of $150.33 million. Semtech had a return on equity of 12.05% and a net margin of 6.44%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. equities analysts forecast that Semtech Co. will post 1.13 EPS for the current year.

Semtech Company 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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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