10,666 Shares in Semtech Co. (NASDAQ:SMTC) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,666 shares of the semiconductor company's stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN increased its stake in shares of Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Semtech in the second quarter valued at approximately $43,395,000. Millennium Management LLC grew its holdings in Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock valued at $108,956,000 after purchasing an additional 765,877 shares during the period. Clearline Capital LP increased its position in Semtech by 143.1% during the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company's stock worth $26,863,000 after purchasing an additional 529,194 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in Semtech during the second quarter worth approximately $14,307,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMTC. Northland Securities upped their price target on Semtech from $46.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 26th. Piper Sandler reissued an "overweight" rating and set a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on shares of Semtech from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective (up previously from $50.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, Benchmark raised their target price on shares of Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $67.70.

Semtech Price Performance

Shares of SMTC stock traded up $0.74 on Friday, hitting $66.12. 6,944,777 shares of the stock traded hands, compared to its average volume of 1,730,408. The company's fifty day moving average is $49.27 and its 200 day moving average is $40.56. Semtech Co. has a 1-year low of $18.03 and a 1-year high of $70.27. The company has a market capitalization of $5.00 billion, a PE ratio of -5.07 and a beta of 1.65.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business's revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. As a group, equities research analysts expect that Semtech Co. will post -0.02 EPS for the current year.

About Semtech

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.