Mason Street Advisors LLC bought a new stake in Semtech Corp. (NASDAQ:SMTC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,761 shares of the company’s stock, valued at approximately $304,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Creative Planning raised its stake in shares of Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock valued at $156,000 after buying an additional 28 shares during the period. PineBridge Investments L.P. raised its stake in shares of Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock valued at $198,000 after buying an additional 348 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Semtech Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,134 shares of the company’s stock valued at $218,000 after buying an additional 1,105 shares during the period. Zacks Investment Management purchased a new stake in shares of Semtech Corp. during the second quarter valued at approximately $224,000. Finally, Aspen Investment Management Inc purchased a new stake in shares of Semtech Corp. during the second quarter valued at approximately $230,000. Institutional investors own 95.43% of the company’s stock.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 27.53 on Friday. The company has a 50-day moving average price of $27.07 and a 200-day moving average price of $24.23. Semtech Corp. has a 1-year low of $15.70 and a 1-year high of $28.21. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 65.39 and a beta of 1.37.
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 consensus estimate of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The company had revenue of $135.90 million for the quarter. During the same quarter in the previous year, the business posted $0.24 EPS. Semtech Corp.’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Semtech Corp. will post $1.34 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the company. B. Riley reissued a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research note on Monday, June 20th. Drexel Hamilton boosted their price target on Semtech Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. Zacks Investment Research lowered Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. MKM Partners reissued a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.33.
In other Semtech Corp. news, VP Mark C. Costello sold 3,042 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $27.47, for a total value of $83,563.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mohan Maheswaran sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $39,000.00. Following the completion of the sale, the insider now owns 184,867 shares in the company, valued at approximately $4,806,542. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.
About Semtech Corp.
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.