Nuveen LLC Buys New Position in Semtech Corporation $SMTC

Nuveen LLC bought a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 812,211 shares of the semiconductor company's stock, valued at approximately $27,940,000. Nuveen LLC owned approximately 0.94% of Semtech at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SMTC. Dunhill Financial LLC bought a new position in Semtech during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its position in Semtech by 58.5% during the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 553 shares during the last quarter. Mariner LLC grew its holdings in shares of Semtech by 3.3% in the fourth quarter. Mariner LLC now owns 18,136 shares of the semiconductor company's stock worth $1,122,000 after purchasing an additional 582 shares during the last quarter. KBC Group NV grew its holdings in shares of Semtech by 16.8% in the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock worth $140,000 after purchasing an additional 586 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Semtech by 12.9% in the fourth quarter. Cetera Investment Advisers now owns 5,226 shares of the semiconductor company's stock worth $323,000 after purchasing an additional 599 shares during the last quarter.

Semtech Stock Performance

Shares of Semtech stock opened at $49.83 on Monday. 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 has a market capitalization of $4.32 billion, a P/E ratio of -24.19 and a beta of 1.94. The business has a fifty day simple moving average of $47.43 and a two-hundred day simple moving average of $40.34. Semtech Corporation has a 12 month low of $24.05 and a 12 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, beating the consensus estimate of $0.21 by $0.10. The business had revenue of $251.10 million during the quarter, compared to analyst estimates of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SMTC. Benchmark restated a "buy" rating and issued a $68.00 target price on shares of Semtech in a report on Wednesday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $54.00 target price on shares of Semtech in a report on Wednesday, May 28th. UBS Group cut their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus raised their target price on shares of Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Morgan Stanley set a $43.00 price target on shares of Semtech in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.58.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 999 shares of Semtech 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 completion of the transaction, the chief financial officer owned 17,211 shares of the company's stock, valued at $754,530.24. The trade was a 5.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value 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. This represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

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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