Metropolitan Life Insurance Co NY trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,486 shares of the semiconductor company’s stock after selling 341 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Semtech were worth $1,042,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. LS Investment Advisors LLC grew its position in Semtech by 4.6% in the 1st quarter. LS Investment Advisors LLC now owns 4,370 shares of the semiconductor company’s stock valued at $222,000 after buying an additional 192 shares in the last quarter. Strs Ohio grew its position in Semtech by 2.8% in the 1st quarter. Strs Ohio now owns 7,300 shares of the semiconductor company’s stock valued at $371,000 after buying an additional 200 shares in the last quarter. State of Tennessee Treasury Department boosted its position in shares of Semtech by 0.5% during the 1st quarter. State of Tennessee Treasury Department now owns 45,363 shares of the semiconductor company’s stock valued at $2,309,000 after purchasing an additional 217 shares in the last quarter. Avitas Wealth Management LLC boosted its position in shares of Semtech by 0.6% during the 1st quarter. Avitas Wealth Management LLC now owns 36,965 shares of the semiconductor company’s stock valued at $1,882,000 after purchasing an additional 223 shares in the last quarter. Finally, Redmond Asset Management LLC boosted its position in shares of Semtech by 1.8% during the 1st quarter. Redmond Asset Management LLC now owns 14,900 shares of the semiconductor company’s stock valued at $759,000 after purchasing an additional 267 shares in the last quarter. 96.82% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on SMTC shares. Oppenheimer reduced their price objective on shares of Semtech from $60.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. BidaskClub lowered shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Cowen began coverage on shares of Littelfuse in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $210.00 price target for the company. Finally, Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Semtech has an average rating of “Buy” and a consensus price target of $55.00.
Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The business had revenue of $131.40 million during the quarter, compared to analysts’ expectations of $130.40 million. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. Equities analysts forecast that Semtech Co. will post 1.15 earnings per share for the current fiscal year.
In related news, VP Alisair Fulton sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $49.38, for a total transaction of $74,070.00. Following the transaction, the vice president now directly owns 382 shares of the company’s stock, valued at approximately $18,863.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sharon K. Faltemier sold 4,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.84, for a total value of $195,360.00. Following the completion of the transaction, the senior vice president now owns 33,276 shares of the company’s stock, valued at $1,625,199.84. The disclosure for this sale can be found here. Insiders sold 98,233 shares of company stock valued at $4,533,021 over the last ninety days. 1.96% of the stock is currently owned by company insiders.
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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
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