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.
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