Mackenzie Financial Corp Has $450,000 Stock Holdings in Semtech Corporation (NASDAQ:SMTC)

Mackenzie Financial Corp decreased its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 67.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,085 shares of the semiconductor company's stock after selling 26,739 shares during the period. Mackenzie Financial Corp's holdings in Semtech were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SMTC. Principal Financial Group Inc. grew its stake in shares of Semtech by 4.2% during the first quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock worth $14,722,000 after buying an additional 17,345 shares during the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Semtech by 48.9% during the 4th quarter. Boothbay Fund Management LLC now owns 40,663 shares of the semiconductor company's stock valued at $2,515,000 after acquiring an additional 13,348 shares in the last quarter. KBC Group NV grew its position in Semtech by 16.8% during the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock worth $140,000 after acquiring an additional 586 shares during the last quarter. Fortress Investment Group LLC acquired a new position in Semtech in the 4th quarter worth about $1,225,000. Finally, Moody Aldrich Partners LLC increased its holdings in Semtech by 75.6% in the 1st quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company's stock worth $3,402,000 after purchasing an additional 42,587 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SMTC shares. Morgan Stanley set a $43.00 price target on Semtech in a research note on Wednesday, May 28th. Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Benchmark reissued a "buy" rating and set a $68.00 target price on shares of Semtech in a report on Wednesday, May 28th. UBS Group dropped their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and an average price target of $59.58.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total transaction of $85,960.00. Following the transaction, the chief operating officer directly owned 105,996 shares of the company's stock, valued at $4,555,708.08. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Lin sold 999 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total transaction of $43,796.16. Following the transaction, the chief financial officer owned 17,211 shares in the company, valued at $754,530.24. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Semtech Stock Performance

Shares of SMTC opened at $51.50 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The firm's fifty day simple moving average is $45.84 and its two-hundred day simple moving average is $41.45. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $79.52. The stock has a market capitalization of $4.46 billion, a P/E ratio of -25.00 and a beta of 1.94.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The business had revenue of $251.10 million during the quarter, compared to analysts' expectations of $249.79 million. During the same quarter last year, the firm posted $0.06 earnings per share. The firm's revenue was up 21.8% on a year-over-year basis. As a group, analysts predict that Semtech Corporation will post -0.02 EPS for the current year.

About Semtech

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.

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