Semtech Co. (NASDAQ:SMTC) Shares Bought by Citigroup Inc.

Citigroup Inc. raised its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 50.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,401 shares of the semiconductor company's stock after buying an additional 32,454 shares during the period. Citigroup Inc. owned about 0.13% of Semtech worth $4,447,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SMTC. 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 in the last quarter. Ridgewood Investments LLC purchased a new position in Semtech during the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board acquired a new position in Semtech during the second quarter worth approximately $60,000. NBC Securities Inc. boosted its holdings in shares of Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 739 shares during the period. Finally, Quarry LP acquired a new position in shares of Semtech in the 2nd quarter valued at $63,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SMTC. Summit Insights downgraded Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Craig Hallum lifted 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. Roth Mkm boosted their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Susquehanna lifted their price objective on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, November 21st. Finally, Northland Securities increased their target price on Semtech from $46.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and an average target price of $67.70.

Semtech Price Performance

Shares of Semtech stock traded up $4.27 on Tuesday, hitting $66.95. The company's stock had a trading volume of 1,810,862 shares, compared to its average volume of 1,832,240. The firm has a fifty day moving average price of $47.69 and a 200-day moving average price of $39.81. Semtech Co. has a 52-week low of $16.19 and a 52-week high of $67.00.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $236.80 million during 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 company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts predict that Semtech Co. will post -0.02 EPS for the current fiscal year.

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.