UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Semtech Co. (NASDAQ:SMTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 198.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,801 shares of the semiconductor company's stock after purchasing an additional 275,717 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.55% of Semtech worth $18,940,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its holdings in Semtech by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company's stock worth $515,000 after buying an additional 673 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 17,150 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Semtech in the 2nd quarter valued at about $13,239,000. Natixis Advisors LLC lifted its holdings in shares of 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 purchasing an additional 17,823 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 24,517 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. B. Riley boosted their target price on Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their target price on Semtech from $58.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, November 21st. Benchmark boosted their target price on Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Piper Sandler reissued an "overweight" rating and issued a $75.00 target price (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.70.

Semtech Stock Up 1.1 %

Shares of SMTC traded up $0.74 during mid-day trading on Friday, reaching $66.12. 6,944,597 shares of the company's stock were exchanged, compared to its average volume of 1,858,276. The company has a 50-day simple moving average of $48.87 and a two-hundred day simple moving average of $40.38. Semtech Co. has a 52-week low of $18.03 and a 52-week high of $70.27. The company has a market cap of $4.97 billion, a price-to-earnings ratio of -5.09 and a beta of 1.65.

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

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.