70,900 Shares in Semtech Co. (NASDAQ:SMTC) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 70,900 shares of the semiconductor company's stock, valued at approximately $3,237,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Semtech at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

SMTC has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of Semtech from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. B. Riley lifted their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. 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. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Northland Securities boosted their price objective on Semtech from $46.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.70.

Semtech Price Performance

Shares of NASDAQ:SMTC traded down $0.16 on Friday, hitting $64.04. The company's stock had a trading volume of 1,113,717 shares, compared to its average volume of 1,565,242. Semtech Co. has a 1 year low of $15.63 and a 1 year high of $66.64. The company has a market capitalization of $4.82 billion, a PE ratio of -4.91 and a beta of 1.54. The company has a 50-day simple moving average of $47.37 and a 200 day simple moving average of $39.65.

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

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.