BNP Paribas Financial Markets Decreases Stock Holdings in Semtech Co. (NASDAQ:SMTC)

BNP Paribas Financial Markets trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 91.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,733 shares of the semiconductor company's stock after selling 365,345 shares during the period. BNP Paribas Financial Markets' holdings in Semtech were worth $1,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Huntington National Bank boosted its stake in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 302 shares during the last quarter. Arizona State Retirement System grew its holdings in Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company's stock valued at $540,000 after purchasing an additional 407 shares during the period. Hanseatic Management Services Inc. increased its position in Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company's stock worth $658,000 after buying an additional 447 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company's stock valued at $214,000 after buying an additional 461 shares during the period. Finally, Creative Planning lifted its position in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company's stock valued at $538,000 after buying an additional 588 shares during the last quarter.

Semtech Trading Up 1.1 %

Shares of Semtech stock traded up $0.74 on Friday, hitting $66.12. 6,944,777 shares of the company traded hands, compared to its average volume of 1,730,408. Semtech Co. has a 12-month low of $18.03 and a 12-month high of $70.27. The firm's 50-day simple moving average is $49.27 and its 200 day simple moving average is $40.56. The company has a market cap of $5.00 billion, a P/E ratio of -5.07 and a beta of 1.65.

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

Analyst Ratings Changes

SMTC has been the subject of several recent research reports. Summit Insights cut Semtech from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Northland Securities boosted their price target on shares of Semtech from $46.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. Roth Mkm raised their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Craig Hallum boosted their target price on shares of Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Susquehanna raised their price target on Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Semtech currently has an average rating of "Moderate Buy" and an average price target of $67.70.

Semtech 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.