Charles Schwab Investment Management Inc. grew its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,057,880 shares of the semiconductor company's stock after buying an additional 100,410 shares during the period. Charles Schwab Investment Management Inc. owned about 1.41% of Semtech worth $48,303,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of SMTC. Mutual of America Capital Management LLC increased its position in Semtech by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company's stock valued at $515,000 after acquiring an additional 673 shares during the period. Intech Investment Management LLC increased its position in Semtech by 128.3% in the 3rd quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company's stock valued at $1,394,000 after acquiring an additional 17,150 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Semtech in the 2nd quarter valued at approximately $13,239,000. Natixis Advisors LLC increased its position in Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company's stock valued at $1,626,000 after acquiring an additional 17,823 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company's stock valued at $1,943,000 after acquiring an additional 24,517 shares during the period.
Semtech Price Performance
Shares of NASDAQ SMTC traded down $1.36 during trading hours on Monday, hitting $62.68. 1,749,999 shares of the company's stock were exchanged, compared to its average volume of 1,832,318. Semtech Co. has a 1-year low of $16.19 and a 1-year high of $66.64. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -4.91 and a beta of 1.54. The company's 50-day moving average price is $47.37 and its 200-day moving average price is $39.65.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business had revenue of $236.80 million during the quarter, compared to analysts' expectations of $232.89 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The firm's revenue was up 17.9% compared to the same quarter last year. On average, research analysts expect that Semtech Co. will post -0.02 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently commented on the company. Craig Hallum raised their target price on Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a "buy" rating and set a $70.00 price objective (up from $50.00) on shares of Semtech in a research note on Tuesday, November 26th. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Susquehanna raised their price objective on Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 21st. Finally, B. Riley raised their price objective on Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and an average target price of $67.70.
Check Out Our Latest Analysis on SMTC
About Semtech
(
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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