Kestrel Investment Management Corp Lowers stake in Semtech Corporation (SMTC)

Semtech Corporation (SMTC) : Kestrel Investment Management Corp reduced its stake in Semtech Corporation by 10.98% during the most recent quarter end. The investment management company now holds a total of 396,625 shares of Semtech Corporation which is valued at $10,106,005 after selling 48,900 shares in Semtech Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Semtech Corporation makes up approximately 3.87% of Kestrel Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Pacad Investment Ltd. reduced its stake in SMTC by selling 11,700 shares or 68.02% in the most recent quarter. The Hedge Fund company now holds 5,500 shares of SMTC which is valued at $140,140. Semtech Corporation makes up approx 0.02% of Pacad Investment Ltd.’s portfolio.California State Teachers Retirement System reduced its stake in SMTC by selling 5,472 shares or 3.88% in the most recent quarter. The Hedge Fund company now holds 135,580 shares of SMTC which is valued at $3,287,815. Semtech Corporation makes up approx 0.01% of California State Teachers Retirement System’s portfolio.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.

Semtech Corporation closed down -0.12 points or -0.45% at $26.3 with 3,25,695 shares getting traded on Tuesday. Post opening the session at $26.54, the shares hit an intraday low of $26.25 and an intraday high of $26.54 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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