Swiss National Bank Reduces Stock Position in Semtech Co. (NASDAQ:SMTC)

Swiss National Bank reduced its position in shares of Semtech Co. (NASDAQ:SMTC) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,300 shares of the semiconductor company’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in Semtech were worth $5,767,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SMTC. Vanguard Group Inc. boosted its holdings in shares of Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Semtech by 5.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 77,580 shares of the semiconductor company’s stock valued at $2,134,000 after acquiring an additional 4,347 shares during the period. SG Capital Management LLC acquired a new stake in Semtech during the first quarter worth $7,084,000. Harbor Capital Advisors Inc. raised its holdings in shares of Semtech by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 18,043 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 3,370 shares during the last quarter. Finally, CWM LLC increased its position in Semtech by 134.6% in the second quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,384 shares during the period.

Analyst Ratings Changes

SMTC has been the topic of a number of analyst reports. Benchmark upped their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price (up from $50.00) on shares of Semtech in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a report on Tuesday. Finally, B. Riley upped their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Semtech has an average rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Stock Up 1.7 %

Shares of NASDAQ SMTC opened at $64.20 on Thursday. Semtech Co. has a 52-week low of $15.63 and a 52-week high of $66.64. The stock has a market capitalization of $4.83 billion, a P/E ratio of -4.86 and a beta of 1.54. The stock’s 50 day moving average price is $46.24 and its two-hundred day moving average price is $39.12.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, analysts anticipate 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.