Vanguard Group Inc. Has $402.56 Million Holdings in Semtech Corporation (NASDAQ:SMTC)

Vanguard Group Inc. raised its position in shares of Semtech Corporation (NASDAQ:SMTC) by 1.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,702,315 shares of the semiconductor company’s stock after purchasing an additional 159,770 shares during the quarter. Vanguard Group Inc. owned approximately 0.14% of Semtech worth $402,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its holdings in shares of Semtech by 1.8% during the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company’s stock worth $213,385,000 after buying an additional 59,743 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Semtech by 364.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after buying an additional 2,562,602 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Semtech by 122.6% during the 4th quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company’s stock worth $92,271,000 after buying an additional 821,671 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Semtech during the 1st quarter worth approximately $45,489,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Semtech by 8.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,024,768 shares of the semiconductor company’s stock worth $63,382,000 after buying an additional 79,015 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SMTC shares. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. Morgan Stanley set a $43.00 price target on Semtech in a report on Wednesday, May 28th. Stifel Nicolaus increased their target price on Semtech from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, UBS Group cut their target price on Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.58.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 999 shares of Semtech stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the sale, the chief financial officer directly owned 17,211 shares in the company, valued at $754,530.24. The trade was a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the sale, the chief operating officer owned 105,996 shares in the company, valued at $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Semtech Trading Down 1.4%

NASDAQ SMTC opened at $49.83 on Friday. The firm has a market capitalization of $4.32 billion, a P/E ratio of -24.19 and a beta of 1.94. The business has a fifty day simple moving average of $47.43 and a 200 day simple moving average of $40.66. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. The business had revenue of $251.10 million during the quarter, compared to analyst estimates of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. Semtech’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. On average, analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.