Palisade Capital Management Lowered Semtech (SMTC) Position; Shorts at Unit (UNT) Raised By 10.96%

February 15, 2018 - By Hazel Jackson

Palisade Capital Management Llc decreased Semtech Corp (SMTC) stake by 21.95% reported in 2017Q3 SEC filing. Palisade Capital Management Llc sold 147,403 shares as Semtech Corp (SMTC)’s stock rose 1.00%. The Palisade Capital Management Llc holds 524,020 shares with $19.68 million value, down from 671,423 last quarter. Semtech Corp now has $2.16B valuation. The stock decreased 0.76% or $0.25 during the last trading session, reaching $32.6. About 354,108 shares traded. Semtech Corporation (NASDAQ:SMTC) has risen 72.29% since February 15, 2017 and is uptrending. It has outperformed by 55.59% the S&P500.

Unit Corporation (NYSE:UNT) had an increase of 10.96% in short interest. UNT’s SI was 4.27 million shares in February as released by FINRA. Its up 10.96% from 3.85M shares previously. With 371,800 avg volume, 12 days are for Unit Corporation (NYSE:UNT)’s short sellers to cover UNT’s short positions. The SI to Unit Corporation’s float is 8.53%. The stock decreased 2.88% or $0.59 during the last trading session, reaching $20.03. About 86,762 shares traded. Unit Corporation (NYSE:UNT) has risen 62.42% since February 15, 2017 and is uptrending. It has outperformed by 45.72% the S&P500.

Palisade Capital Management Llc increased Dril (NYSE:DRQ) stake by 21,963 shares to 136,969 valued at $6.05M in 2017Q3. It also upped Rovi Corp (Prn) stake by 697,000 shares and now owns 4.39M shares. Idacorp Inc (NYSE:IDA) was raised too.

Investors sentiment decreased to 1.02 in Q3 2017. Its down 0.05, from 1.07 in 2017Q2. It turned negative, as 16 investors sold SMTC shares while 74 reduced holdings. 30 funds opened positions while 62 raised stakes. 61.66 million shares or 0.19% less from 61.78 million shares in 2017Q2 were reported. Credit Suisse Ag accumulated 0% or 85,409 shares. Eam Investors Lc holds 46,504 shares. Sg Americas Llc invested 0.01% of its portfolio in Semtech Corporation (NASDAQ:SMTC). Moreover, Federated Pa has 0% invested in Semtech Corporation (NASDAQ:SMTC) for 17,682 shares. American Intll Group Inc has 51,537 shares for 0.01% of their portfolio. Moreover, Huntington National Bank has 0% invested in Semtech Corporation (NASDAQ:SMTC). Moreover, Loomis Sayles Lp has 0.06% invested in Semtech Corporation (NASDAQ:SMTC) for 766,119 shares. Principal Grp Inc owns 533,523 shares. Martingale Asset LP owns 36,210 shares. Prudential Financial holds 0.02% in Semtech Corporation (NASDAQ:SMTC) or 294,635 shares. Penn Capital Mngmt Com Incorporated has 0.83% invested in Semtech Corporation (NASDAQ:SMTC). Columbia Wanger Asset Management Ltd Co invested in 790,672 shares or 0.44% of the stock. Kentucky-based Teachers Retirement System Of The State Of Kentucky has invested 0.01% in Semtech Corporation (NASDAQ:SMTC). Suffolk Cap Mngmt Ltd Co holds 32,354 shares. Comerica Bancshares reported 70,280 shares.

Since August 15, 2017, it had 0 buys, and 28 sales for $3.86 million activity. $94,450 worth of Semtech Corporation (NASDAQ:SMTC) shares were sold by Silberstein Asaf. Ammann Charles B. had sold 2,250 shares worth $83,250 on Thursday, January 11. 5,000 shares were sold by HANKIN ROCKELL N, worth $183,228 on Tuesday, September 5. 1,000 shares were sold by Pegulu Marc, worth $38,214. $32,532 worth of Semtech Corporation (NASDAQ:SMTC) was sold by Costello Mark C on Wednesday, September 6. CHUKWU EMEKA sold $75,438 worth of stock or 2,000 shares. WILSON JOHN MICHAEL sold $144,544 worth of stock or 4,000 shares.

Analysts await Semtech Corporation (NASDAQ:SMTC) to report earnings on March, 14. They expect $0.26 EPS, up 4.00% or $0.01 from last year’s $0.25 per share. SMTC’s profit will be $17.25 million for 31.35 P/E if the $0.26 EPS becomes a reality. After $0.34 actual EPS reported by Semtech Corporation for the previous quarter, Wall Street now forecasts -23.53% negative EPS growth.

Among 12 analysts covering Semtech (NASDAQ:SMTC), 9 have Buy rating, 0 Sell and 3 Hold. Therefore 75% are positive. Semtech had 33 analyst reports since August 3, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, June 1 by Drexel Hamilton. The firm has “Hold” rating by RBC Capital Markets given on Wednesday, August 30. The rating was maintained by RBC Capital Markets on Monday, July 3 with “Hold”. The company was maintained on Monday, October 2 by RBC Capital Markets. M Partners downgraded the stock to “Neutral” rating in Friday, September 25 report. On Thursday, January 18 the stock rating was maintained by Needham with “Buy”. As per Thursday, August 24, the company rating was maintained by B. Riley & Co. On Sunday, August 27 the stock rating was maintained by Oppenheimer with “Buy”. As per Thursday, December 1, the company rating was upgraded by Oppenheimer. Drexel Hamilton maintained the shares of SMTC in report on Thursday, November 30 with “Buy” rating.

Among 7 analysts covering Unit (NYSE:UNT), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Unit had 20 analyst reports since August 17, 2015 according to SRatingsIntel. KLR Group downgraded Unit Corporation (NYSE:UNT) on Thursday, May 26 to “Accumulate” rating. The firm has “Buy” rating by KLR Group given on Wednesday, August 23. The rating was maintained by Cowen & Co with “Hold” on Thursday, January 18. The stock has “Hold” rating by Cowen & Co on Friday, September 15. The firm has “Hold” rating given on Tuesday, July 25 by KLR Group. The firm earned “Hold” rating on Tuesday, July 18 by Cowen & Co. The firm earned “Buy” rating on Friday, June 24 by Seaport Global. The firm has “Buy” rating given on Friday, May 5 by KLR Group. The rating was downgraded by KLR Group to “Hold” on Tuesday, October 17. The rating was initiated by SunTrust with “Buy” on Thursday, December 17.

Investors sentiment increased to 1.15 in Q3 2017. Its up 0.11, from 1.04 in 2017Q2. It improved, as 11 investors sold Unit Corporation shares while 51 reduced holdings. 21 funds opened positions while 50 raised stakes. 49.30 million shares or 2.78% more from 47.97 million shares in 2017Q2 were reported. Prudential has invested 0.01% in Unit Corporation (NYSE:UNT). Guggenheim Cap Limited Liability Company holds 0% of its portfolio in Unit Corporation (NYSE:UNT) for 89,373 shares. 16,546 were accumulated by Neuberger Berman Group Lc. 1,400 were reported by Old Mutual Customised Solutions (Proprietary) Limited. Qs Ltd holds 0.01% or 74,897 shares. Glenmede Na invested 0% of its portfolio in Unit Corporation (NYSE:UNT). Virginia Retirement System Et Al stated it has 10,598 shares or 0% of all its holdings. 47,195 are owned by Raymond James Fincl Advsrs. Credit Suisse Ag holds 0% or 87,197 shares in its portfolio. Arizona State Retirement invested 0.01% of its portfolio in Unit Corporation (NYSE:UNT). Pnc Financial Ser Group Inc holds 1,264 shares or 0% of its portfolio. Millennium Mgmt Ltd Limited Liability Company accumulated 30,223 shares. Wedge L L P Nc stated it has 0% of its portfolio in Unit Corporation (NYSE:UNT). Gemmer Asset Limited Liability Company has 165 shares for 0% of their portfolio. Point72 Asia (Hong Kong), a Hong Kong-based fund reported 3,720 shares.

Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling firm primarily in the United States. The company has market cap of $1.06 billion. The firm operates through three divisions: Oil and Natural Gas, Contract Drilling, and Mid-Stream. It has a 33.5 P/E ratio. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties primarily located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.

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