Lisanti Capital Growth LLC lifted its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 60.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,065 shares of the semiconductor company's stock after acquiring an additional 39,110 shares during the period. Lisanti Capital Growth LLC owned approximately 0.14% of Semtech worth $4,752,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of SMTC. State of New Jersey Common Pension Fund D lifted its stake in shares of Semtech by 16.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 53,567 shares of the semiconductor company's stock valued at $2,446,000 after buying an additional 7,747 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Semtech during the third quarter valued at $201,000. Olympiad Research LP purchased a new stake in Semtech in the 3rd quarter worth about $419,000. Principal Financial Group Inc. lifted its stake in shares of Semtech by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company's stock worth $16,187,000 after acquiring an additional 33,606 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in shares of Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company's stock worth $658,000 after purchasing an additional 447 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. Summit Insights downgraded shares of Semtech from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Roth Mkm reiterated a "buy" rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Stifel Nicolaus increased their price target on shares of Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Benchmark reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Finally, B. Riley increased their target price on shares of Semtech from $58.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.60.
Read Our Latest Stock Analysis on Semtech
Semtech Stock Performance
Semtech stock traded down $2.13 during mid-day trading on Monday, reaching $50.69. 737,384 shares of the company were exchanged, compared to its average volume of 1,826,172. The firm's 50-day simple moving average is $44.11 and its two-hundred day simple moving average is $38.13. Semtech Co. has a twelve month low of $13.94 and a twelve month high of $53.22. The firm has a market cap of $3.81 billion, a PE ratio of -3.90 and a beta of 1.54.
Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $215.40 million during the quarter, compared to analysts' expectations of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. Semtech's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) earnings per share. As a group, equities research analysts anticipate that Semtech Co. will post -0.07 EPS for the current year.
Semtech Company Profile
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Free Report)
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.
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