Versor Investments LP trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 69.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,600 shares of the semiconductor company's stock after selling 17,600 shares during the quarter. Versor Investments LP's holdings in Semtech were worth $347,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of SMTC. Lisanti Capital Growth LLC grew its position in shares of Semtech by 60.2% in the third quarter. Lisanti Capital Growth LLC now owns 104,065 shares of the semiconductor company's stock valued at $4,752,000 after purchasing an additional 39,110 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Semtech by 16.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 53,567 shares of the semiconductor company's stock valued at $2,446,000 after buying an additional 7,747 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Semtech during the third quarter worth approximately $201,000. Olympiad Research LP bought a new position in Semtech in the 3rd quarter valued at $419,000. Finally, Principal Financial Group Inc. increased its position in Semtech by 10.5% in the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company's stock worth $16,187,000 after purchasing an additional 33,606 shares during the period.
Semtech Price Performance
NASDAQ SMTC traded down $3.23 on Friday, reaching $44.10. The company had a trading volume of 1,881,679 shares, compared to its average volume of 1,815,664. The business has a 50 day moving average of $44.72 and a two-hundred day moving average of $38.52. Semtech Co. has a fifty-two week low of $15.05 and a fifty-two week high of $53.22. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -3.25 and a beta of 1.54.
Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $215.40 million during the quarter, compared to analysts' expectations of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm's revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. As a group, research analysts predict that Semtech Co. will post -0.07 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Benchmark reiterated a "buy" rating and set a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Roth Mkm reiterated a "buy" rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. B. Riley increased their target price on Semtech from $58.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.60.
Read Our Latest Report on Semtech
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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