Sora Investors LLC Sells 50,000 Shares of Semtech Co. (NASDAQ:SMTC)

Sora Investors LLC reduced its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the semiconductor company's stock after selling 50,000 shares during the period. Sora Investors LLC owned 0.13% of Semtech worth $4,566,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank increased its stake in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 302 shares in the last quarter. Arizona State Retirement System grew its position in Semtech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company's stock valued at $540,000 after purchasing an additional 407 shares during the period. Hanseatic Management Services Inc. increased its stake in Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company's stock valued at $658,000 after purchasing an additional 447 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Semtech by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company's stock worth $214,000 after acquiring an additional 461 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company's stock worth $538,000 after purchasing an additional 588 shares during the last quarter.

Semtech Trading Up 0.2 %

Shares of Semtech stock traded up $0.10 during trading on Friday, hitting $65.48. The stock had a trading volume of 4,229,207 shares, compared to its average volume of 1,846,227. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of -5.09 and a beta of 1.65. Semtech Co. has a 12 month low of $18.03 and a 12 month high of $70.27. The business's 50-day moving average is $48.87 and its 200 day moving average is $40.38.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS. As a group, equities analysts expect that Semtech Co. will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price (up previously from $50.00) on shares of Semtech in a research note on Tuesday, November 26th. Craig Hallum lifted their target price on shares of Semtech from $48.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Northland Securities upped their target price on Semtech from $46.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Stifel Nicolaus increased their price target on Semtech from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Summit Insights cut Semtech from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $67.70.

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.