Verition Fund Management LLC grew its holdings in Semtech Co. (NASDAQ:SMTC - Free Report) by 617.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,800 shares of the semiconductor company's stock after purchasing an additional 107,400 shares during the period. Verition Fund Management LLC owned approximately 0.17% of Semtech worth $5,698,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Huntington National Bank grew its position in Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after buying an additional 302 shares during the last quarter. Arizona State Retirement System increased its position in Semtech by 2.3% during the 2nd 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. Hanseatic Management Services Inc. raised its position in Semtech by 3.2% in the third 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 during the period. Nisa Investment Advisors LLC raised its stake 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 valued at $214,000 after purchasing an additional 461 shares during the period. Finally, Creative Planning boosted its holdings in Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company's stock valued at $538,000 after purchasing an additional 588 shares during the last quarter.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SMTC. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price target (up from $50.00) on shares of Semtech in a research report on Tuesday, November 26th. Craig Hallum raised their price objective on shares of Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. B. Riley increased their price target on Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Susquehanna boosted 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, Stifel Nicolaus lifted their target price on Semtech from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Semtech has an average rating of "Moderate Buy" and an average target price of $67.70.
Check Out Our Latest Stock Analysis on SMTC
Semtech Price Performance
Shares of NASDAQ SMTC traded up $4.27 during mid-day trading on Tuesday, hitting $66.95. The company had a trading volume of 1,810,862 shares, compared to its average volume of 1,832,240. The firm has a 50-day simple moving average of $47.69 and a two-hundred day simple moving average of $39.81. Semtech Co. has a one year low of $16.19 and a one year high of $67.00.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company 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 company posted $0.02 earnings per share. The business's revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Semtech Co. will post -0.02 earnings per share for the current fiscal year.
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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