Semtech Co. (NASDAQ:SMTC) Stake Decreased by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 95.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,707 shares of the semiconductor company's stock after selling 162,073 shares during the period. SG Americas Securities LLC's holdings in Semtech were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new position in shares of Semtech in the 1st quarter valued at $27,000. Ridgewood Investments LLC acquired a new position in shares of Semtech during the second quarter worth about $44,000. GAMMA Investing LLC boosted its position 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 buying an additional 773 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech in the second quarter worth about $60,000. Finally, Quarry LP acquired a new stake in shares of Semtech in the second quarter valued at about $63,000.

Analyst Ratings Changes

A number of research firms have weighed in on SMTC. Benchmark restated a "buy" rating and issued a $56.00 price target on shares of Semtech in a report on Monday, October 7th. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of Semtech from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. Summit Insights cut shares of Semtech from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Finally, B. Riley raised their target price on Semtech from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.60.

Semtech Stock Performance

Shares of SMTC stock traded down $0.08 during trading hours on Friday, hitting $43.88. 1,375,641 shares of the company were exchanged, compared to its average volume of 1,890,073. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -2.59 and a beta of 1.54. Semtech Co. has a one year low of $13.13 and a one year high of $49.53. The business's 50-day simple moving average is $41.34 and its two-hundred day simple moving average is $36.70.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter last year, the business posted ($0.06) EPS. Semtech's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, analysts anticipate that Semtech Co. will post -0.07 EPS 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.