Atom Investors LP Invests $2.19 Million in Semtech Co. (NASDAQ:SMTC)

Atom Investors LP acquired a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 47,874 shares of the semiconductor company's stock, valued at approximately $2,186,000. Atom Investors LP owned approximately 0.06% of Semtech as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SMTC. Mutual of America Capital Management LLC grew its holdings in Semtech by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company's stock valued at $515,000 after purchasing an additional 673 shares during the period. Intech Investment Management LLC raised its position in shares of Semtech by 128.3% in the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company's stock valued at $1,394,000 after purchasing an additional 17,150 shares during the period. Assenagon Asset Management S.A. bought a new position in Semtech in the 2nd quarter worth approximately $13,239,000. Natixis Advisors LLC grew its stake in Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company's stock valued at $1,626,000 after buying an additional 17,823 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Semtech by 135.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company's stock valued at $1,943,000 after acquiring an additional 24,517 shares during the period.

Semtech Price Performance

NASDAQ SMTC traded up $2.59 on Tuesday, reaching $65.27. 507,238 shares of the company's stock traded hands, compared to its average volume of 1,826,206. The stock has a market cap of $4.91 billion, a PE ratio of -5.01 and a beta of 1.65. Semtech Co. has a 12 month low of $16.19 and a 12 month high of $66.64. The stock has a 50-day simple moving average of $47.69 and a 200 day simple moving average of $39.81.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company had revenue of $236.80 million for the quarter, compared to analysts' expectations of $232.89 million. During the same quarter last year, the company earned $0.02 EPS. The firm's revenue was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Semtech Co. will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of analyst reports. Roth Mkm raised their price target on Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Benchmark lifted their target price on Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Piper Sandler reissued an "overweight" rating and issued a $75.00 price target (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, November 21st. Finally, B. Riley upped their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.70.

Semtech Company Profile

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.