Disciplined Growth Investors Inc. MN Acquires 114,999 Shares of Semtech Co. (NASDAQ:SMTC)

Disciplined Growth Investors Inc. MN grew its position in Semtech Co. (NASDAQ:SMTC - Free Report) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,609,984 shares of the semiconductor company's stock after purchasing an additional 114,999 shares during the period. Semtech comprises approximately 2.3% of Disciplined Growth Investors Inc. MN's holdings, making the stock its 19th biggest holding. Disciplined Growth Investors Inc. MN owned about 3.47% of Semtech worth $119,172,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in Semtech in the 3rd quarter valued at about $763,000. Wellington Management Group LLP acquired a new position in Semtech during the 3rd quarter worth $10,556,000. Whale Rock Capital Management LLC bought a new position in Semtech in the 3rd quarter valued at $32,126,000. Stifel Financial Corp acquired a new position in shares of Semtech during the third quarter valued at $237,000. Finally, Portolan Capital Management LLC grew its holdings in Semtech by 46.5% during the 3rd quarter. Portolan Capital Management LLC now owns 94,036 shares of the semiconductor company's stock worth $4,294,000 after acquiring an additional 29,854 shares during the period.

Semtech Trading Down 2.9 %

SMTC stock traded down $1.88 during trading hours on Tuesday, hitting $63.06. 1,017,567 shares of the stock were exchanged, compared to its average volume of 1,869,580. The company has a 50-day simple moving average of $49.65 and a two-hundred day simple moving average of $40.74. The firm has a market capitalization of $4.77 billion, a P/E ratio of -4.98 and a beta of 1.65. Semtech Co. has a 12 month low of $18.16 and a 12 month high of $70.27.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMTC. Piper Sandler restated an "overweight" rating and set a $75.00 target price (up 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 stock a "buy" rating in a research report on Tuesday, November 26th. Susquehanna raised their price objective on Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 21st. Northland Securities increased their price target on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Roth Mkm lifted their price objective on Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a report on Monday, November 25th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.30.

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.