Huntington National Bank held its stake in shares of Semtech Corp. (NASDAQ:SMTC) during the second quarter, Holdings Channel reports. The firm owned 5,020 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Semtech Corp. were worth $134,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SMTC. Creative Planning increased its stake in shares of Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock valued at $156,000 after buying an additional 28 shares in the last quarter. Glenmede Trust Co. NA increased its position in Semtech Corp. by 2,761.8% in the first quarter. Glenmede Trust Co. NA now owns 11,905 shares of the company’s stock valued at $260,000 after buying an additional 11,489 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Semtech Corp. during the first quarter valued at approximately $290,000. Pacad Investment Ltd. purchased a new position in Semtech Corp. during the first quarter valued at approximately $378,000. Finally, Capstone Asset Management Co. increased its position in Semtech Corp. by 2.9% in the second quarter. Capstone Asset Management Co. now owns 18,663 shares of the company’s stock valued at $445,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.
Shares of Semtech Corp. (NASDAQ:SMTC) traded down 0.47% during trading on Friday, hitting $27.53. The stock had a trading volume of 349,499 shares. Semtech Corp. has a 52 week low of $15.70 and a 52 week high of $28.21. The company has a market capitalization of $1.81 billion, a PE ratio of 65.39 and a beta of 1.37. The firm has a 50-day moving average price of $27.07 and a 200 day moving average price of $24.23.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The firm earned $135.90 million during the quarter. During the same quarter in the previous year, the company posted $0.24 earnings per share. Semtech Corp.’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Semtech Corp. will post $1.34 earnings per share for the current year.
Several research firms have commented on SMTC. Drexel Hamilton reiterated a “buy” rating and issued a $32.00 target price on shares of Semtech Corp. in a research report on Saturday. B. Riley reiterated a “buy” rating and issued a $37.00 target price on shares of Semtech Corp. in a research report on Thursday. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. Zacks Investment Research downgraded Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a research report on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.33.
In other news, insider Mohan Maheswaran sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $26.40, for a total value of $39,600.00. Following the completion of the sale, the insider now owns 183,367 shares of the company’s stock, valued at approximately $4,840,888.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $27.47, for a total value of $83,563.74. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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