Y Intercept Hong Kong Ltd Purchases New Holdings in Semtech Co. (NASDAQ:SMTC)

Y Intercept Hong Kong Ltd bought a new position in Semtech Co. (NASDAQ:SMTC - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,721 shares of the semiconductor company's stock, valued at approximately $763,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Semtech in the 3rd quarter worth about $10,556,000. Whale Rock Capital Management LLC bought a new stake in Semtech in the 3rd quarter worth approximately $32,126,000. Stifel Financial Corp purchased a new stake in Semtech in the third quarter worth approximately $237,000. Portolan Capital Management LLC grew its position in Semtech by 46.5% during the third quarter. Portolan Capital Management LLC now owns 94,036 shares of the semiconductor company's stock valued at $4,294,000 after acquiring an additional 29,854 shares during the last quarter. Finally, Atom Investors LP purchased a new position in shares of Semtech during the third quarter worth approximately $2,186,000.

Analysts Set New Price Targets

Several research firms recently commented on SMTC. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Roth Mkm lifted their price objective on Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Benchmark increased 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. B. Riley lifted their price target on Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Susquehanna increased their price objective on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $68.70.

Semtech Price Performance

NASDAQ:SMTC traded up $0.61 during trading hours on Friday, hitting $65.15. The company had a trading volume of 2,039,799 shares, compared to its average volume of 1,875,330. Semtech Co. has a 52 week low of $18.16 and a 52 week high of $70.27. The company has a market capitalization of $4.93 billion, a PE ratio of -4.99 and a beta of 1.65. The stock has a 50-day moving average price of $51.48 and a 200 day moving average price of $41.41.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts anticipate that Semtech Co. will post -0.01 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.