Marshall Wace LLP Lowers Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Marshall Wace LLP reduced its stake in Semtech Co. (NASDAQ:SMTC) by 34.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,675 shares of the semiconductor company’s stock after selling 50,628 shares during the quarter. Marshall Wace LLP’s holdings in Semtech were worth $2,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SMTC. Fidelis Capital Partners LLC purchased a new position in shares of Semtech in the 1st quarter valued at approximately $27,000. Ridgewood Investments LLC purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $44,000. GAMMA Investing LLC grew its stake in shares of Semtech by 83.9% in the 1st 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 last quarter. Versant Capital Management Inc grew its stake in shares of Semtech by 205.0% in the 1st 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. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $60,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SMTC. Susquehanna lifted their price target on Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, June 6th. StockNews.com upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Craig Hallum lifted their price target on Semtech from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Northland Securities lifted their price target on Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Stock Performance

Shares of SMTC stock opened at $40.58 on Friday. The stock has a fifty day moving average price of $38.16 and a 200 day moving average price of $35.18. The stock has a market cap of $2.62 billion, a PE ratio of -2.40 and a beta of 1.54. Semtech Co. has a 1 year low of $13.13 and a 1 year high of $49.53.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities research analysts predict 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.