Palisade Capital Management LLC NJ decreased its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 22.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 524,020 shares of the semiconductor company’s stock after selling 147,403 shares during the period. Palisade Capital Management LLC NJ owned 0.79% of Semtech Corporation worth $19,677,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in SMTC. BlackRock Inc. increased its stake in shares of Semtech Corporation by 32,758.7% during the first quarter. BlackRock Inc. now owns 8,382,260 shares of the semiconductor company’s stock valued at $283,320,000 after purchasing an additional 8,356,750 shares in the last quarter. FMR LLC grew its holdings in shares of Semtech Corporation by 15.5% during the second quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock valued at $299,446,000 after buying an additional 1,124,083 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Semtech Corporation by 21.1% during the second quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock valued at $94,178,000 after buying an additional 459,808 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Semtech Corporation during the second quarter valued at approximately $11,770,000. Finally, Fisher Asset Management LLC grew its holdings in shares of Semtech Corporation by 409.3% during the second quarter. Fisher Asset Management LLC now owns 407,323 shares of the semiconductor company’s stock valued at $14,562,000 after buying an additional 327,351 shares during the last quarter. 94.37% of the stock is owned by institutional investors and hedge funds.
Semtech Corporation (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The business had revenue of $153.10 million for the quarter, compared to analyst estimates of $154.91 million. During the same quarter in the prior year, the business posted $0.35 EPS. Semtech Corporation’s revenue for the quarter was up 12.7% compared to the same quarter last year.
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In other Semtech Corporation news, SVP Asaf Silberstein sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $40.72, for a total transaction of $40,720.00. Following the transaction, the senior vice president now owns 28,900 shares in the company, valued at approximately $1,176,808. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohan Maheswaran sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $38.21, for a total transaction of $95,525.00. Following the transaction, the insider now owns 222,872 shares in the company, valued at approximately $8,515,939.12. The disclosure for this sale can be found here. Insiders have sold a total of 69,267 shares of company stock worth $2,671,487 in the last 90 days. 2.10% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on SMTC shares. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $42.00 price target on shares of Semtech Corporation in a report on Sunday, August 27th. Zacks Investment Research cut shares of Semtech Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Royal Bank Of Canada restated a “hold” rating and issued a $39.00 target price on shares of Semtech Corporation in a report on Thursday, July 6th. Drexel Hamilton restated a “buy” rating and issued a $45.00 target price on shares of Semtech Corporation in a report on Thursday, August 31st. Finally, B. Riley restated a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a report on Thursday, October 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.50.
About Semtech Corporation
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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