Palisade Capital Managementnj Lowers stake in Semtech Corporation (SMTC)

Semtech Corporation (SMTC) : Palisade Capital Managementnj reduced its stake in Semtech Corporation by 0.87% during the most recent quarter end. The investment management company now holds a total of 773,542 shares of Semtech Corporation which is valued at $18,758,394 after selling 6,777 shares in Semtech Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Semtech Corporation makes up approximately 0.80% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp sold out all of its stake in SMTC during the most recent quarter. The investment firm sold 3,405 shares of SMTC which is valued $82,571. Cutler Group Lp sold out all of its stake in SMTC during the most recent quarter. The investment firm sold 3,197 shares of SMTC which is valued $78,295.Creative Planning boosted its stake in SMTC in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 6,528 shares of Semtech Corporation which is valued at $159,871.Bnp Paribas Arbitrage Sa boosted its stake in SMTC in the latest quarter, The investment management firm added 11,125 additional shares and now holds a total of 20,362 shares of Semtech Corporation which is valued at $492,964.

Semtech Corporation opened for trading at $24.9 and hit $25.08 on the upside on Monday, eventually ending the session at $25.03, with a gain of 0.89% or 0.22 points. The heightened volatility saw the trading volume jump to 3,19,952 shares. Company has a market cap of $1,634 M.

On the company’s financial health, Semtech Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 1, 2016. Analyst had a consensus of $0.28. The company had revenue of $131.10 million for the quarter, compared to analysts expectations of $128.38 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Semtech Corporation. Company shares were Reiterated by RBC Capital Mkts on Jun 2, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 25 from a previous price target of $22 .

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs develops and markets a range of products for commercial applications which are sold into the enterprise computing communications high-end consumer and industrial end-markets. It offers datacenters passive optical networks notebooks servers and other computer peripherals for the enterprise computing market. It offers base stations optical networks carrier networks switches and routers cable modems and other communication infrastructure equipment for communications market. It offers handheld products smartphones set-top boxes digital televisions and other consumer equipment for the high-end consumer market. It offers video broadcast studio equipment automated meter reading Internet of Things (IoT) smart grid military and aerospace medical security systems automotive industrial and home automation and other industrial equipment for the industrial market.

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