Semtech Co. (NASDAQ:SMTC) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 212,584 shares of the semiconductor company's stock after acquiring an additional 7,221 shares during the period. Rhumbline Advisers owned 0.25% of Semtech worth $7,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Semtech during the 4th quarter worth approximately $31,000. Dunhill Financial LLC purchased a new position in Semtech in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its stake in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech during the fourth quarter worth $52,000. Finally, Versant Capital Management Inc raised its position in Semtech by 58.5% in the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 553 shares during the period.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark reissued a "buy" rating and set a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. UBS Group reduced their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Morgan Stanley set a $43.00 target price on shares of Semtech in a report on Wednesday, May 28th. Finally, Craig Hallum cut their target price on Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average target price of $58.58.

Semtech Stock Performance

SMTC stock traded down $0.05 during midday trading on Thursday, reaching $41.89. 1,567,457 shares of the company were exchanged, compared to its average volume of 2,117,866. The stock's 50-day simple moving average is $33.70 and its 200 day simple moving average is $46.52. Semtech Co. has a 1-year low of $24.05 and a 1-year high of $79.52. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -3.21, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88.

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

Semtech Company 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.