Geode Capital Management LLC grew its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,617,783 shares of the semiconductor company's stock after buying an additional 119,572 shares during the period. Geode Capital Management LLC owned approximately 2.15% of Semtech worth $73,883,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN grew its stake in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Semtech in the 2nd quarter valued at approximately $43,395,000. Millennium Management LLC raised its holdings in Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock worth $108,956,000 after buying an additional 765,877 shares during the period. Whale Rock Capital Management LLC bought a new position in Semtech in the third quarter valued at approximately $32,126,000. Finally, Clearline Capital LP boosted its holdings in shares of Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company's stock valued at $26,863,000 after buying an additional 529,194 shares during the period.
Semtech Stock Down 0.0 %
Shares of NASDAQ:SMTC traded down $0.03 during midday trading on Friday, hitting $63.55. The stock had a trading volume of 3,670,901 shares, compared to its average volume of 1,881,971. The company has a market cap of $4.81 billion, a P/E ratio of -4.87 and a beta of 1.65. Semtech Co. has a 12 month low of $18.16 and a 12 month high of $70.27. The business's 50-day simple moving average is $53.69 and its 200-day simple moving average is $42.28.
Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. As a group, equities analysts predict that Semtech Co. will post -0.01 earnings per share for the current year.
Analyst Ratings Changes
SMTC has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating and set a $75.00 price objective (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, November 21st. Summit Insights downgraded Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on Semtech from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC upped their price target on Semtech from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.70.
Check Out Our Latest Research Report on SMTC
Insiders Place Their Bets
In other Semtech news, CFO Mark Lin sold 6,114 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company's stock, valued at $232,127.94. This trade represents a 63.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company's stock.
Semtech 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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