Victory Capital Management Inc. raised its holdings in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 130.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 824,198 shares of the semiconductor company's stock after purchasing an additional 466,868 shares during the quarter. Victory Capital Management Inc. owned 1.10% of Semtech worth $37,633,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lisanti Capital Growth LLC increased its position in shares of Semtech by 60.2% during the 3rd 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 boosted its stake in shares of Semtech by 16.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 53,567 shares of the semiconductor company's stock worth $2,446,000 after purchasing an additional 7,747 shares during the period. Crossmark Global Holdings Inc. bought a new position in Semtech during the 3rd quarter valued at about $201,000. Olympiad Research LP bought a new stake in Semtech in the third quarter worth about $419,000. Finally, Principal Financial Group Inc. boosted its position in shares of Semtech by 10.5% during the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company's stock valued at $16,187,000 after buying an additional 33,606 shares during the period.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SMTC. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Roth Mkm reissued a "buy" rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Finally, Benchmark restated a "buy" rating and issued a $56.00 target price on shares of Semtech in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.60.
Read Our Latest Stock Analysis on Semtech
Semtech Stock Performance
Semtech stock opened at $44.10 on Friday. The business has a fifty day moving average of $44.72 and a two-hundred day moving average of $38.53. Semtech Co. has a twelve month low of $15.05 and a twelve month high of $53.22.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate 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 for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. On average, equities analysts forecast that Semtech Co. will post -0.07 EPS for the current fiscal year.
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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