Walleye Capital LLC grew its holdings in Semtech Co. (NASDAQ:SMTC – Get Rating) by 17.5% in the 1st quarter, Holdings Channel reports. The fund owned 12,080 shares of the semiconductor company's stock after purchasing an additional 1,799 shares during the quarter. Walleye Capital LLC's holdings in Semtech were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its position in Semtech by 3.7% in the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company's stock worth $496,515,000 after purchasing an additional 257,224 shares during the last quarter. Vanguard Group Inc. increased its stake in Semtech by 0.4% during the first quarter. Vanguard Group Inc. now owns 6,480,636 shares of the semiconductor company's stock valued at $449,367,000 after acquiring an additional 26,683 shares during the period. State Street Corp raised its holdings in Semtech by 4.4% in the 1st quarter. State Street Corp now owns 2,587,049 shares of the semiconductor company's stock valued at $179,386,000 after acquiring an additional 107,848 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Semtech by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 1,395,379 shares of the semiconductor company's stock worth $124,091,000 after acquiring an additional 58,024 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Semtech by 4.6% during the 4th quarter. Capital Research Global Investors now owns 887,100 shares of the semiconductor company's stock worth $78,890,000 after purchasing an additional 39,000 shares in the last quarter. Institutional investors and hedge funds own 97.53% of the company's stock.
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Analyst Ratings Changes
A number of research firms have weighed in on SMTC. Robert W. Baird decreased their price target on shares of Semtech from $90.00 to $48.00 and set an "outperform" rating on the stock in a research note on Thursday, September 1st. Susquehanna Bancshares dropped their price target on shares of Semtech to $56.00 in a research report on Monday, August 29th. StockNews.com lowered Semtech from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 1st. Cowen downgraded Semtech from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $65.00 to $43.00 in a research report on Thursday, September 1st. Finally, Piper Sandler dropped their price objective on Semtech from $95.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, September 1st. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $65.00.
Semtech Stock Performance
Semtech stock opened at $31.72 on Tuesday. The stock has a 50-day simple moving average of $48.95 and a 200 day simple moving average of $56.94. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.92 and a beta of 1.59. The company has a quick ratio of 3.35, a current ratio of 4.12 and a debt-to-equity ratio of 0.22. Semtech Co. has a 12-month low of $29.52 and a 12-month high of $94.92.
Semtech (NASDAQ:SMTC – Get Rating) last announced its earnings results on Wednesday, August 31st. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The company had revenue of $209.25 million for the quarter, compared to analyst estimates of $208.29 million. Semtech had a net margin of 19.94% and a return on equity of 21.18%. Semtech's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. On average, research analysts anticipate that Semtech Co. will post 2.29 earnings per share for the current fiscal year.
Semtech Company Profile
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Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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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