Semtech Co. (NASDAQ:SMTC) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 135.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,560 shares of the semiconductor company's stock after buying an additional 24,517 shares during the quarter. Harbor Capital Advisors Inc. owned 0.06% of Semtech worth $1,943,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System increased its stake in shares of Semtech by 2.3% in the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company's stock worth $540,000 after purchasing an additional 407 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Semtech by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company's stock valued at $214,000 after acquiring an additional 461 shares during the period. Creative Planning raised its holdings in Semtech by 3.4% during the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company's stock valued at $538,000 after acquiring an additional 588 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Semtech by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company's stock valued at $971,000 after acquiring an additional 700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Semtech by 4.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company's stock worth $463,000 after acquiring an additional 710 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMTC. B. Riley boosted their price target on Semtech from $58.00 to $61.00 and gave the stock a "buy" rating 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 stock a "buy" rating 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 research note on Monday, October 7th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Finally, Summit Insights lowered Semtech from a "buy" rating to a "hold" rating in a research report 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.60.

Semtech Price Performance

Shares of SMTC traded up $3.12 during mid-day trading on Tuesday, reaching $47.04. 1,230,543 shares of the company's stock traded hands, compared to its average volume of 1,838,938. The stock's 50-day moving average is $43.50 and its two-hundred day moving average is $37.64. Semtech Co. has a 12 month low of $13.65 and a 12 month high of $49.53. The stock has a market cap of $3.54 billion, a P/E ratio of -3.44 and a beta of 1.54.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) 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 analyst estimates 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 revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) earnings per share. Research analysts predict that Semtech Co. will post -0.07 earnings per share for the current year.

About Semtech

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.