ProShare Advisors LLC Raises Stock Position in Semtech Co. (NASDAQ:SMTC)

ProShare Advisors LLC boosted its position in shares of Semtech Co. (NASDAQ:SMTC) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,378 shares of the semiconductor company’s stock after purchasing an additional 923 shares during the period. ProShare Advisors LLC’s holdings in Semtech were worth $2,228,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in Semtech by 400.5% during the first quarter. SG Americas Securities LLC now owns 49,931 shares of the semiconductor company’s stock worth $3,445,000 after purchasing an additional 39,954 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Semtech by 19.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,937 shares of the semiconductor company’s stock valued at $209,148,000 after acquiring an additional 502,872 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in shares of Semtech in the 2nd quarter valued at approximately $2,752,000. Ameritas Investment Company LLC purchased a new stake in shares of Semtech in the 1st quarter valued at approximately $51,000. Finally, Duality Advisers LP purchased a new stake in shares of Semtech in the 1st quarter valued at approximately $569,000. 94.73% of the stock is currently owned by institutional investors.

In related news, VP Alisair Fulton sold 1,350 shares of the company’s stock in a transaction on Wednesday, October 13th. The shares were sold at an average price of $75.61, for a total value of $102,073.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Asaf Silberstein sold 1,000 shares of the company’s stock in a transaction on Friday, September 24th. The shares were sold at an average price of $82.50, for a total transaction of $82,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,826 shares of company stock valued at $1,671,743. Company insiders own 1.30% of the company’s stock.

SMTC has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on shares of Semtech from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 2nd. Cowen boosted their price target on shares of Semtech from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. TheStreet raised shares of Semtech from a “c+” rating to a “b-” rating in a research note on Friday, June 25th. B. Riley reaffirmed a “buy” rating and set a $97.00 target price (up from $95.00) on shares of Semtech in a research note on Thursday, September 2nd. Finally, Needham & Company LLC upped their target price on shares of Semtech from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, September 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Semtech currently has an average rating of “Buy” and an average price target of $79.55.

NASDAQ SMTC opened at $74.76 on Thursday. The firm has a 50 day moving average of $72.97 and a two-hundred day moving average of $68.03. Semtech Co. has a 52 week low of $52.23 and a 52 week high of $83.94. The company has a quick ratio of 3.28, a current ratio of 4.17 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $4.81 billion, a PE ratio of 54.17, a price-to-earnings-growth ratio of 3.22 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 31st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. Semtech had a net margin of 13.44% and a return on equity of 14.21%. The business had revenue of $185.00 million during the quarter, compared to analysts’ expectations of $182.89 million. During the same quarter in the prior year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, equities research analysts expect that Semtech Co. will post 1.84 earnings per share for the current fiscal year.

Semtech Company Profile

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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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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