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Semtech Corporation (NASDAQ:SMTC) Shares Sold by PAX Financial Group LLC

Semtech logo with Computer and Technology background

PAX Financial Group LLC decreased its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 29.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,362 shares of the semiconductor company's stock after selling 6,795 shares during the quarter. PAX Financial Group LLC's holdings in Semtech were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after acquiring an additional 1,326,226 shares during the last quarter. Hood River Capital Management LLC raised its holdings in Semtech by 1.8% in the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company's stock worth $213,385,000 after purchasing an additional 59,743 shares during the period. Whale Rock Capital Management LLC increased its position in Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock worth $202,015,000 after buying an additional 2,562,602 shares in the last quarter. Wellington Management Group LLP increased its holdings in Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after acquiring an additional 1,911,890 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Semtech by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company's stock worth $112,317,000 after buying an additional 197,732 shares in 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 that occurred on Tuesday, June 24th. The stock was 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 in the company, valued at $4,555,708.08. The trade was a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Lin sold 999 shares of Semtech stock in a transaction that occurred on 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 owned 17,211 shares in the company, valued at approximately $754,530.24. The trade was a 5.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Analysis on SMTC

Semtech Stock Up 5.4%

Shares of SMTC stock traded up $2.75 during trading hours on Friday, reaching $53.62. 2,569,691 shares of the company's stock were exchanged, compared to its average volume of 2,167,145. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The stock's 50 day moving average is $42.05 and its 200-day moving average is $42.94. 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 company has a market cap of $4.65 billion, a price-to-earnings ratio of -26.03 and a beta of 1.92.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (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 firm had revenue of $251.10 million during the quarter, compared to analysts' expectations of $249.79 million. During the same period last year, the business posted $0.06 earnings per share. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts predict that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Semtech Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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