Ameriprise Financial Inc. Has $7,686,000 Position in Semtech Corp. (SMTC)
Ameriprise Financial Inc. raised its position in shares of Semtech Corp. (NASDAQ:SMTC) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 322,128 shares of the company’s stock after buying an additional 20,767 shares during the period. Ameriprise Financial Inc. owned 0.49% of Semtech Corp. worth $7,686,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Creative Planning increased its stake in Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock worth $156,000 after buying an additional 28 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Semtech Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock worth $690,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. boosted its position in shares of Semtech Corp. by 2.9% in the second quarter. Capstone Asset Management Co. now owns 18,663 shares of the company’s stock worth $445,000 after buying an additional 520 shares during the period. Ngam Advisors L.P. boosted its position in shares of Semtech Corp. by 10.0% in the first quarter. Ngam Advisors L.P. now owns 27,177 shares of the company’s stock worth $598,000 after buying an additional 2,461 shares during the period. Finally, Quantitative Investment Management LLC boosted its position in shares of Semtech Corp. by 53.7% in the second quarter. Quantitative Investment Management LLC now owns 14,600 shares of the company’s stock worth $348,000 after buying an additional 5,100 shares during the period. Institutional investors own 95.43% of the company’s stock.
Semtech Corp. (NASDAQ:SMTC) traded down 0.80% during mid-day trading on Friday, hitting $27.44. 121,631 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $27.02 and its 200-day moving average price is $24.19. The stock has a market cap of $1.80 billion, a PE ratio of 65.18 and a beta of 1.37. Semtech Corp. has a 12 month low of $15.70 and a 12 month high of $28.21.
Semtech Corp. (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts expect that Semtech Corp. will post $1.34 EPS for the current fiscal year.
A number of brokerages recently issued reports on SMTC. B. Riley reissued a “buy” rating and issued a $37.00 price objective on shares of Semtech Corp. in a research note on Thursday. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. MKM Partners reissued a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 23rd. Drexel Hamilton reissued a “buy” rating and issued a $29.00 price objective on shares of Semtech Corp. in a research note on Thursday, June 23rd. Finally, Zacks Investment Research cut shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Semtech Corp. presently has a consensus rating of “Buy” and a consensus price target of $27.33.
In other Semtech Corp. news, insider Mohan Maheswaran sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $26.40, for a total value of $39,600.00. Following the sale, the insider now directly owns 183,367 shares in the company, valued at approximately $4,840,888.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark C. Costello sold 3,042 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total transaction of $83,563.74. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Corp. (NASDAQ:SMTC).
Receive News & Ratings for Semtech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Corp. and related companies with MarketBeat.com's FREE daily email newsletter.