Virtu Financial LLC acquired a new stake in Semtech Co. (NASDAQ:SMTC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,383 shares of the semiconductor company’s stock, valued at approximately $577,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Semtech by 4.0% during the 3rd quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock worth $528,088,000 after acquiring an additional 363,609 shares during the last quarter. Bank of New York Mellon Corp grew its position in Semtech by 30.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock worth $127,868,000 after acquiring an additional 543,325 shares during the last quarter. Alliancebernstein L.P. grew its position in Semtech by 2.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,155,889 shares of the semiconductor company’s stock worth $119,867,000 after acquiring an additional 47,871 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Semtech by 4.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,062 shares of the semiconductor company’s stock worth $59,709,000 after acquiring an additional 55,141 shares during the last quarter. Finally, Northern Trust Corp grew its position in Semtech by 1.8% during the 2nd quarter. Northern Trust Corp now owns 990,109 shares of the semiconductor company’s stock worth $46,584,000 after acquiring an additional 17,974 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

In other Semtech news, VP Marc Pegulu sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $58.00, for a total transaction of $116,000.00. Following the transaction, the vice president now owns 16,068 shares of the company’s stock, valued at approximately $931,944. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James Jungsup Kim sold 2,500 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $57.30, for a total value of $143,250.00. Following the transaction, the senior vice president now directly owns 46,225 shares in the company, valued at approximately $2,648,692.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,995 shares of company stock worth $4,290,572. Company insiders own 2.30% of the company’s stock.

NASDAQ:SMTC opened at $46.77 on Friday. Semtech Co. has a 52-week low of $31.30 and a 52-week high of $60.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.53 and a current ratio of 4.03. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.58 and a beta of 1.75.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, November 28th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Semtech had a return on equity of 14.23% and a net margin of 7.97%. The firm had revenue of $173.60 million for the quarter, compared to the consensus estimate of $173.06 million. During the same quarter in the prior year, the business earned $0.54 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts expect that Semtech Co. will post 1.57 earnings per share for the current year.

SMTC has been the topic of a number of research analyst reports. Roth Capital set a $63.00 price target on Semtech and gave the stock a “buy” rating in a research report on Monday, October 8th. Stifel Nicolaus increased their price target on Semtech from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Needham & Company LLC increased their price target on Semtech from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. ValuEngine lowered Semtech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, B. Riley restated a “buy” rating and set a $61.00 price target (up from $58.00) on shares of Semtech in a research report on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $59.82.

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Semtech Company Profile

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.

Read More: Return on Equity (ROE)

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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