1,452,316 Shares in Semtech Co. (NASDAQ:SMTC) Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC bought a new stake in Semtech Co. (NASDAQ:SMTC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,452,316 shares of the semiconductor company’s stock, valued at approximately $43,395,000.

Other hedge funds have also made changes to their positions in the company. Kodai Capital Management LP purchased a new position in Semtech during the fourth quarter worth about $43,504,000. Millennium Management LLC raised its stake in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after buying an additional 765,877 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Semtech in the 2nd quarter valued at approximately $14,307,000. Assenagon Asset Management S.A. purchased a new stake in shares of Semtech in the second quarter valued at approximately $13,239,000. Finally, SG Americas Securities LLC grew its holdings in Semtech by 5,613.9% during the first quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company’s stock worth $11,735,000 after acquiring an additional 419,415 shares during the period.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Craig Hallum boosted their price target on Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. StockNews.com raised Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Roth Mkm reiterated a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Finally, Benchmark restated a “buy” rating and issued a $56.00 price target on shares of Semtech in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

Semtech Price Performance

Semtech stock opened at $46.35 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -2.74 and a beta of 1.54. The firm’s 50-day moving average is $37.56 and its two-hundred day moving average is $34.68. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $49.53.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $215.40 million for the quarter, compared to analyst estimates of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, analysts forecast that Semtech Co. will post -0.07 EPS for the current year.

About Semtech

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.