Semtech Co. (NASDAQ:SMTC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 425,121 shares of the semiconductor company's stock after selling 17,940 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.66% of Semtech worth $19,411,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Semtech in the first quarter valued at approximately $27,000. NBC Securities Inc. grew its holdings in Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock valued at $62,000 after buying an additional 739 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Semtech in the 2nd quarter worth $44,000. International Assets Investment Management LLC raised its holdings in shares of Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company's stock worth $77,000 after acquiring an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Semtech during the 2nd quarter valued at about $60,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Roth Mkm restated a "buy" rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Benchmark reiterated a "buy" rating and issued a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. B. Riley raised their target price on Semtech from $58.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus upped their price target on Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.60.

Semtech Trading Up 3.1 %

Semtech stock traded up $1.36 during midday trading on Friday, reaching $45.47. 1,037,580 shares of the stock traded hands, compared to its average volume of 1,865,779. The firm has a market cap of $2.94 billion, a PE ratio of -2.69 and a beta of 1.54. The company has a 50-day simple moving average of $42.42 and a two-hundred day simple moving average of $37.12. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $49.53.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data 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 during 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%. The business's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Equities research analysts anticipate that Semtech Co. will post -0.07 earnings per share for the current year.

Semtech Company 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.