Acadian Asset Management LLC reduced its stake in shares of Semtech Co. (NASDAQ:SMTC) by 83.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,611 shares of the semiconductor company’s stock after selling 23,201 shares during the period. Acadian Asset Management LLC’s holdings in Semtech were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Amalgamated Bank grew its position in Semtech by 12.0% during the 2nd quarter. Amalgamated Bank now owns 10,549 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 1,133 shares during the period. Victory Capital Management Inc. grew its position in shares of Semtech by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 64,019 shares of the semiconductor company’s stock valued at $3,012,000 after acquiring an additional 1,197 shares during the period. Piedmont Investment Advisors LLC grew its position in shares of Semtech by 8.6% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 15,404 shares of the semiconductor company’s stock valued at $725,000 after acquiring an additional 1,220 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of Semtech by 16.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 9,988 shares of the semiconductor company’s stock valued at $470,000 after acquiring an additional 1,400 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Semtech by 33.5% during the 2nd quarter. GSA Capital Partners LLP now owns 6,856 shares of the semiconductor company’s stock valued at $323,000 after acquiring an additional 1,721 shares during the period. 98.21% of the stock is currently owned by institutional investors.

SMTC has been the topic of a number of analyst reports. Piper Jaffray Companies raised their target price on Semtech from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, September 10th. Stifel Nicolaus raised their target price on Semtech from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. BidaskClub cut Semtech from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. ValuEngine cut Semtech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Needham & Company LLC cut Semtech from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a research report on Tuesday, September 4th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $59.55.

In related news, Director Rockell N. Hankin sold 2,928 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $57.30, for a total value of $167,774.40. Following the transaction, the director now directly owns 157,868 shares of the company’s stock, valued at approximately $9,045,836.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Simon A. Brown sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $59.01, for a total transaction of $118,020.00. Following the completion of the transaction, the vice president now directly owns 17,193 shares in the company, valued at $1,014,558.93. The disclosure for this sale can be found here. Insiders sold a total of 41,386 shares of company stock worth $2,398,867 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Shares of Semtech stock opened at $45.44 on Thursday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 32.46, a P/E/G ratio of 5.63 and a beta of 1.68. Semtech Co. has a twelve month low of $31.30 and a twelve month high of $60.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.62 and a current ratio of 4.13.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $163.20 million for the quarter, compared to analyst estimates of $161.21 million. Semtech had a net margin of 8.48% and a return on equity of 12.66%. Semtech’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.48 EPS. Sell-side analysts forecast that Semtech Co. will post 1.56 EPS for the current year.

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About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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