Janney Montgomery Scott LLC purchased a new stake in Semtech Co. (NASDAQ:SMTC – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,378 shares of the semiconductor company's stock, valued at approximately $217,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp grew its position in shares of Semtech by 224.4% in the third quarter. Fifth Third Bancorp now owns 837 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 579 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Semtech in the third quarter valued at about $497,000. WCM Investment Management LLC grew its position in shares of Semtech by 1.0% in the third quarter. WCM Investment Management LLC now owns 177,267 shares of the semiconductor company's stock valued at $5,424,000 after purchasing an additional 1,713 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Semtech by 462.8% in the third quarter. Pacer Advisors Inc. now owns 5,628 shares of the semiconductor company's stock valued at $166,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Diversified Trust Co grew its position in Semtech by 4.1% during the third quarter. Diversified Trust Co now owns 16,800 shares of the semiconductor company's stock worth $494,000 after buying an additional 666 shares in the last quarter. 96.32% of the stock is owned by institutional investors and hedge funds.
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Semtech Stock Performance
SMTC stock opened at $33.15 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.96 and a quick ratio of 5.17. The company has a 50 day moving average price of $29.78 and a 200 day moving average price of $36.03. Semtech Co. has a fifty-two week low of $25.29 and a fifty-two week high of $74.11. The stock has a market capitalization of $2.12 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.95 and a beta of 1.66.
Semtech (NASDAQ:SMTC – Get Rating) last posted its quarterly earnings data on Wednesday, November 30th. The semiconductor company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. Semtech had a net
margin of 18.88% and a return on equity of 21.15%. The firm had revenue of $177.62 million during the quarter, compared to analysts' expectations of $176.03 million. Analysts forecast that Semtech Co. will post 2.3 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Piper Sandler decreased their target price on Semtech from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 30th. Susquehanna decreased their target price on Semtech from $34.00 to $32.00 in a research report on Thursday, December 1st. Cowen decreased their target price on Semtech from $43.00 to $33.00 in a research report on Thursday, December 1st. Susquehanna Bancshares decreased their price objective on Semtech to $34.00 in a report on Monday, November 28th. Finally, Cowen decreased their price objective on Semtech from $43.00 to $33.00 in a report on Thursday, December 1st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Semtech has a consensus rating of "Hold" and an average price target of $49.08.
Semtech Profile
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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.
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