Semtech Co. (NASDAQ:SMTC) Stock Holdings Boosted by Arizona State Retirement System

Arizona State Retirement System lifted its position in shares of Semtech Co. (NASDAQ:SMTC) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,074 shares of the semiconductor company’s stock after acquiring an additional 407 shares during the period. Arizona State Retirement System’s holdings in Semtech were worth $540,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SMTC. Kodai Capital Management LP bought a new position in shares of Semtech during the fourth quarter worth about $43,504,000. Assenagon Asset Management S.A. acquired a new stake in Semtech in the second quarter worth about $13,239,000. SG Americas Securities LLC lifted its holdings in Semtech by 5,613.9% in the first quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company’s stock worth $11,735,000 after purchasing an additional 419,415 shares during the period. SG Capital Management LLC acquired a new stake in Semtech in the first quarter worth about $7,084,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Semtech by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock worth $26,679,000 after purchasing an additional 197,595 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SMTC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Semtech in a report on Wednesday, May 29th. Susquehanna upped their price objective on shares of Semtech from $45.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, June 6th. Northland Securities upped their price target on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Trading Down 3.8 %

SMTC stock opened at $40.06 on Tuesday. Semtech Co. has a one year low of $13.13 and a one year high of $46.86. The firm has a market capitalization of $3.01 billion, a PE ratio of -2.37 and a beta of 1.54. The firm has a 50-day moving average of $35.51 and a two-hundred day moving average of $33.37.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, equities research analysts anticipate that Semtech Co. will post -0.07 earnings per share for the current 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.