Mackenzie Financial Corp Boosts Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Mackenzie Financial Corp raised its position in Semtech Co. (NASDAQ:SMTC - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,824 shares of the semiconductor company's stock after buying an additional 12,211 shares during the quarter. Mackenzie Financial Corp owned 0.05% of Semtech worth $2,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Semtech by 15.8% during the fourth quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company's stock worth $25,396,000 after acquiring an additional 56,108 shares during the period. Rhumbline Advisers lifted its position in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock worth $12,702,000 after purchasing an additional 11,878 shares during the period. Convergence Investment Partners LLC acquired a new stake in Semtech during the fourth quarter worth about $2,680,000. Stephens Inc. AR acquired a new position in shares of Semtech in the 4th quarter valued at approximately $889,000. Finally, Essential Planning LLC. bought a new stake in shares of Semtech during the 4th quarter worth approximately $1,069,000.

Wall Street Analyst Weigh In

Several research analysts have commented on SMTC shares. Benchmark restated a "buy" rating and set a $68.00 price objective on shares of Semtech in a research report on Wednesday. Morgan Stanley set a $43.00 price objective on Semtech in a research report on Wednesday. UBS Group dropped their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Stifel Nicolaus upped their price objective on Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Robert W. Baird dropped their price objective on Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.58.

Semtech Stock Up 3.2%

Semtech stock traded up $1.16 during trading hours on Friday, hitting $36.92. The stock had a trading volume of 3,323,132 shares, compared to its average volume of 2,189,012. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -2.83, a P/E/G ratio of 2.12 and a beta of 1.88. The business's 50 day simple moving average is $32.89 and its 200-day simple moving average is $47.00. Semtech Co. has a one year low of $24.05 and a one year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The company's quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. Research analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 2,907 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Semtech Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.