Prudential Financial Inc. decreased its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 44.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,635 shares of the semiconductor company’s stock after selling 236,100 shares during the period. Prudential Financial Inc. owned approximately 0.45% of Semtech Corporation worth $11,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SMTC. Strs Ohio boosted its stake in Semtech Corporation by 22.2% during the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Semtech Corporation by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after buying an additional 65 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Semtech Corporation by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock worth $171,000 after buying an additional 717 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Semtech Corporation by 65.5% in the second quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock worth $183,000 after buying an additional 2,030 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its stake in shares of Semtech Corporation by 66.7% in the second quarter. Flinton Capital Management LLC now owns 5,740 shares of the semiconductor company’s stock worth $205,000 after buying an additional 2,296 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Semtech Corporation (SMTC) opened at $40.50 on Wednesday. Semtech Corporation has a 12-month low of $27.55 and a 12-month high of $41.95. The company has a market cap of $2,581.75, a PE ratio of 35.46, a price-to-earnings-growth ratio of 6.34 and a beta of 1.48. The company has a current ratio of 3.42, a quick ratio of 2.83 and a debt-to-equity ratio of 0.34.

Semtech Corporation (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $154.91 million. During the same period last year, the business earned $0.35 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. equities research analysts expect that Semtech Corporation will post 1.23 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $42.00 target price on shares of Semtech Corporation in a research note on Sunday. BWS Financial assumed coverage on shares of Semtech Corporation in a research note on Monday. They issued a “buy” rating and a $49.00 target price on the stock. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. B. Riley reiterated a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $44.29.

In other news, SVP Asaf Silberstein sold 1,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,176,808. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $37.76, for a total transaction of $94,400.00. The disclosure for this sale can be found here. Insiders sold a total of 68,370 shares of company stock valued at $2,636,446 over the last quarter. 2.20% of the stock is owned by company insiders.

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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.

Institutional Ownership by Quarter for Semtech Corporation (NASDAQ:SMTC)

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