Nisa Investment Advisors LLC Acquires 461 Shares of Semtech Co. (NASDAQ:SMTC)

Nisa Investment Advisors LLC boosted its holdings in Semtech Co. (NASDAQ:SMTC) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 7,159 shares of the semiconductor company’s stock after purchasing an additional 461 shares during the period. Nisa Investment Advisors LLC’s holdings in Semtech were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 773 shares during the period. Texas Permanent School Fund Corp grew its stake in Semtech by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,053 shares of the semiconductor company’s stock valued at $1,541,000 after buying an additional 875 shares during the last quarter. ProShare Advisors LLC lifted its position in Semtech by 7.4% during the first quarter. ProShare Advisors LLC now owns 12,902 shares of the semiconductor company’s stock worth $355,000 after acquiring an additional 893 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Semtech during the first quarter worth approximately $27,000. Finally, Versant Capital Management Inc grew its position in shares of Semtech by 205.0% in the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the last quarter.

Semtech Trading Up 4.6 %

Shares of Semtech stock opened at $36.91 on Friday. The company has a 50 day moving average of $32.22 and a 200-day moving average of $30.88. The company has a market cap of $2.39 billion, a PE ratio of -2.18 and a beta of 1.55. Semtech Co. has a 1-year low of $13.13 and a 1-year high of $46.86.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The firm had revenue of $206.11 million during the quarter, compared to analysts’ expectations of $200.16 million. Research analysts forecast that Semtech Co. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Monday, July 15th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. Susquehanna boosted their price objective on shares of Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, June 6th. Finally, Craig Hallum raised their target price on shares of Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Semtech has an average rating of “Moderate Buy” and a consensus price target of $48.90.

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.