Semtech Co. (NASDAQ:SMTC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Semtech Co. (NASDAQ:SMTC) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,617,783 shares of the semiconductor company’s stock after buying an additional 119,572 shares during the quarter. Geode Capital Management LLC’s holdings in Semtech were worth $73,883,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SMTC. Huntington National Bank grew its holdings in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Semtech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after purchasing an additional 407 shares during the period. Hanseatic Management Services Inc. increased its stake in Semtech by 3.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares during the period. Finally, Creative Planning lifted its stake in Semtech by 3.4% during the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares in the last quarter.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $63.55 on Friday. Semtech Co. has a one year low of $18.16 and a one year high of $70.27. The business’s 50-day moving average price is $53.30 and its two-hundred day moving average price is $42.11. The company has a market capitalization of $4.81 billion, a P/E ratio of -4.87 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. On average, equities analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SMTC shares. Needham & Company LLC lifted their target price on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Northland Securities lifted their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Craig Hallum increased their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Roth Mkm lifted their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.70.

Insider Activity

In other Semtech news, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.

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.