Barclays PLC lessened its holdings in Semtech Co. (NASDAQ:SMTC – Free Report) by 61.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,556 shares of the semiconductor company’s stock after selling 65,094 shares during the quarter. Barclays PLC owned 0.06% of Semtech worth $1,057,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in Semtech in the 2nd quarter valued at $41,000. Quarry LP bought a new stake in shares of Semtech in the 1st quarter worth about $49,000. Captrust Financial Advisors grew its holdings in shares of Semtech by 186.5% in the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 664 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Semtech in the 2nd quarter worth about $78,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Semtech in the 1st quarter worth about $84,000.
Analyst Upgrades and Downgrades
SMTC has been the topic of a number of research analyst reports. Benchmark raised shares of Semtech from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, October 19th. StockNews.com initiated coverage on shares of Semtech in a report on Thursday, October 5th. They set a “sell” rating on the stock. TheStreet lowered shares of Semtech from a “c-” rating to a “d” rating in a report on Thursday, September 14th. B. Riley decreased their price objective on shares of Semtech from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, September 14th. Finally, Summit Insights raised shares of Semtech from a “hold” rating to a “buy” rating in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.31.
Insider Activity at Semtech
In related news, SVP Michael W. Rodensky sold 18,227 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $25.50, for a total transaction of $464,788.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Semtech news, Director Paul V. Walsh, Jr. purchased 20,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was bought at an average cost of $24.83 per share, with a total value of $496,600.00. Following the purchase, the director now directly owns 20,888 shares of the company’s stock, valued at $518,649.04. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael W. Rodensky sold 18,227 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $25.50, for a total transaction of $464,788.50. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Semtech Stock Performance
Shares of NASDAQ:SMTC opened at $15.84 on Monday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.31 and a beta of 1.71. The firm’s 50 day simple moving average is $20.03 and its 200 day simple moving average is $22.91. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.96 and a quick ratio of 1.40. Semtech Co. has a fifty-two week low of $13.13 and a fifty-two week high of $35.18.
Semtech (NASDAQ:SMTC – Get Free Report) last announced its quarterly earnings results on Wednesday, September 13th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The business had revenue of $238.37 million for the quarter, compared to the consensus estimate of $237.37 million. Semtech had a negative net margin of 53.62% and a positive return on equity of 2.94%. Semtech’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. As a group, sell-side analysts forecast that Semtech Co. will post -0.71 earnings per share for the current year.
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.
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