Wellington Management Group LLP Takes Position in Semtech Co. (NASDAQ:SMTC)

Wellington Management Group LLP bought a new stake in Semtech Co. (NASDAQ:SMTC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 231,191 shares of the semiconductor company's stock, valued at approximately $10,556,000. Wellington Management Group LLP owned approximately 0.31% of Semtech as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock valued at $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock valued at $74,550,000 after buying an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Semtech in the second quarter valued at $43,395,000. Charles Schwab Investment Management Inc. lifted its holdings in Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company's stock worth $48,303,000 after buying an additional 100,410 shares during the last quarter. Finally, Clearline Capital LP lifted its holdings in Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company's stock worth $26,863,000 after buying an additional 529,194 shares during the last quarter.

Analysts Set New Price Targets

SMTC has been the topic of several research analyst reports. Piper Sandler reissued an "overweight" rating and set a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Stifel Nicolaus increased their price target on shares of Semtech from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Needham & Company LLC boosted their price objective on shares of Semtech from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday. B. Riley increased their target price on shares of Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Northland Securities lifted their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.70.

Semtech Price Performance

Shares of NASDAQ:SMTC traded up $3.12 on Monday, reaching $68.27. The company's stock had a trading volume of 2,022,018 shares, compared to its average volume of 1,875,946. Semtech Co. has a 52-week low of $18.16 and a 52-week high of $70.27. The stock's 50-day moving average is $51.98 and its two-hundred day moving average is $41.62. The stock has a market capitalization of $5.17 billion, a P/E ratio of -5.23 and a beta of 1.65.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analysts' expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Equities analysts forecast that Semtech Co. will post -0.01 earnings per share for the current fiscal year.

Semtech Company 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.