Ellevest Inc. trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC – Get Rating) by 12.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944 shares of the semiconductor company's stock after selling 432 shares during the period. Ellevest Inc.'s holdings in Semtech were worth $162,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Martingale Asset Management L P increased its stake in shares of Semtech by 28.4% in the 1st quarter. Martingale Asset Management L P now owns 11,301 shares of the semiconductor company's stock valued at $784,000 after buying an additional 2,500 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Semtech in the 1st quarter valued at $528,000. Capital Research Global Investors increased its stake in shares of Semtech by 4.6% in the 4th quarter. Capital Research Global Investors now owns 887,100 shares of the semiconductor company's stock valued at $78,890,000 after buying an additional 39,000 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Semtech in the 1st quarter valued at $2,261,000. Finally, Mutual of America Capital Management LLC increased its stake in shares of Semtech by 2.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 58,761 shares of the semiconductor company's stock valued at $4,074,000 after buying an additional 1,160 shares during the period. 97.53% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
Several research firms have recently commented on SMTC. Susquehanna lowered their target price on Semtech from $75.00 to $72.00 and set a "hold" rating for the company in a research note on Wednesday, June 1st. Susquehanna Bancshares decreased their price objective on Semtech to $56.00 in a research note on Monday, August 29th. Piper Sandler decreased 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. Benchmark decreased their price objective on Semtech to $65.00 in a research note on Tuesday, September 6th. Finally, StockNews.com cut Semtech from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 1st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $65.00.
Semtech Stock Performance
SMTC stock opened at $30.84 on Thursday. The business's 50-day moving average price is $45.51 and its two-hundred day moving average price is $55.43. The company has a current ratio of 4.12, a quick ratio of 3.35 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.96 billion, a PE ratio of 12.54, a P/E/G ratio of 0.91 and a beta of 1.59. Semtech Co. has a 1-year low of $29.19 and a 1-year high of $94.92.
Semtech (NASDAQ:SMTC – Get Rating) last posted its earnings results on Wednesday, August 31st. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $209.25 million for the quarter, compared to analyst estimates of $208.29 million. Semtech had a return on equity of 21.18% and a net margin of 19.94%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, research analysts forecast that Semtech Co. will post 2.18 earnings per share for the current year.
Semtech 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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