Free Trial

Inspire Advisors LLC Invests $3.15 Million in Semtech Co. (NASDAQ:SMTC)

Semtech logo with Computer and Technology background

Inspire Advisors LLC bought a new stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 68,893 shares of the semiconductor company's stock, valued at approximately $3,146,000. Semtech makes up about 0.4% of Inspire Advisors LLC's portfolio, making the stock its 28th biggest position. Inspire Advisors LLC owned approximately 0.09% of Semtech as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Semtech during the first quarter worth about $27,000. Ridgewood Investments LLC purchased a new stake in shares of Semtech during the second quarter worth about $44,000. GAMMA Investing LLC grew its holdings in shares of Semtech by 83.9% during the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company's stock worth $47,000 after buying an additional 773 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the second quarter worth about $60,000. Finally, NBC Securities Inc. grew its holdings in shares of Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock worth $62,000 after buying an additional 739 shares in the last quarter.

Semtech Price Performance

SMTC stock traded down $0.08 during midday trading on Friday, reaching $43.88. 1,375,615 shares of the company's stock traded hands, compared to its average volume of 1,890,073. The company has a market capitalization of $2.84 billion, a P/E ratio of -2.59 and a beta of 1.54. Semtech Co. has a fifty-two week low of $13.13 and a fifty-two week high of $49.53. The business has a 50-day moving average price of $41.34 and a two-hundred day moving average price of $36.64.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $215.40 million for the quarter, compared to analysts' expectations of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. Semtech's revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, research analysts forecast that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SMTC shares. Benchmark reiterated a "buy" rating and set a $56.00 price target on shares of Semtech in a report on Monday, October 7th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on shares of Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Roth Mkm restated a "buy" rating and issued a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Finally, B. Riley boosted their target price on shares of Semtech from $58.00 to $61.00 and gave the company a "buy" rating in a 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.60.

Get Our Latest Research Report on Semtech

Semtech Company Profile

(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.

See Also

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

Should you invest $1,000 in Semtech right now?

Before you consider Semtech, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.

While Semtech currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2024 Cover

With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Whitestone REIT is Outperforming in 2024: 35% Growth & Monthly Dividends
Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines