Mackenzie Financial Corp Takes Position in Semtech Co. (NASDAQ:SMTC)

Mackenzie Financial Corp purchased a new position in Semtech Co. (NASDAQ:SMTC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,609 shares of the semiconductor company's stock, valued at approximately $437,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in shares of Semtech in the first quarter valued at $27,000. Ridgewood Investments LLC bought a new position in Semtech during the second quarter worth about $44,000. GAMMA Investing LLC increased its stake in shares of Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 773 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Semtech by 205.0% in the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company's stock valued at $51,000 after purchasing an additional 1,259 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Semtech in the second quarter valued at approximately $60,000.

Semtech Trading Up 2.7 %

Shares of Semtech stock traded up $1.10 on Friday, hitting $41.68. 1,615,611 shares of the company traded hands, compared to its average volume of 1,776,411. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $49.53. The company has a market cap of $2.69 billion, a P/E ratio of -2.46 and a beta of 1.54. The firm's 50-day simple moving average is $38.61 and its 200 day simple moving average is $35.44.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Analysts predict that Semtech Co. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

SMTC has been the subject of a number of recent research reports. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Roth Mkm reissued a "buy" rating and set a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Benchmark reaffirmed a "buy" rating and set a $56.00 target price on shares of Semtech in a report on Monday, September 9th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, B. Riley raised their price objective 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 investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.60.

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.