Natixis Advisors LLC Decreases Position in Semtech Corporation (NASDAQ:SMTC)

Natixis Advisors LLC lessened its stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 63.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,116 shares of the semiconductor company's stock after selling 35,023 shares during the period. Natixis Advisors LLC's holdings in Semtech were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SMTC. LPL Financial LLC raised its holdings in shares of Semtech by 18.3% during the 4th quarter. LPL Financial LLC now owns 19,154 shares of the semiconductor company's stock worth $1,185,000 after acquiring an additional 2,965 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Semtech during the 4th quarter worth about $267,000. Franklin Resources Inc. acquired a new stake in shares of Semtech during the 4th quarter worth about $922,000. Envestnet Asset Management Inc. increased its position in shares of Semtech by 65.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 86,282 shares of the semiconductor company's stock worth $5,337,000 after purchasing an additional 33,980 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Semtech by 12.8% during the 4th quarter. Legal & General Group Plc now owns 230,949 shares of the semiconductor company's stock worth $14,284,000 after purchasing an additional 26,172 shares during the last quarter.

Insider Transactions at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the transaction, the chief operating officer directly owned 105,996 shares of the company's stock, valued at approximately $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the transaction, the chief financial officer directly owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

SMTC has been the subject of a number of recent analyst reports. Benchmark reissued a "buy" rating and set a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Stifel Nicolaus raised their price objective on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. UBS Group cut 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. Finally, Morgan Stanley set a $43.00 price objective on Semtech in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.58.

Semtech Trading Down 3.2%

NASDAQ SMTC traded down $1.60 during trading on Friday, hitting $48.92. The stock had a trading volume of 146,905 shares, compared to its average volume of 2,412,260. The company has a market capitalization of $4.24 billion, a PE ratio of -23.81 and a beta of 1.94. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average price of $47.19 and a 200 day moving average price of $40.74. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $249.79 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current year.

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.