Dimensional Fund Advisors LP Sells 618,405 Shares of Semtech Co. (NASDAQ:SMTC)

Dimensional Fund Advisors LP decreased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 88.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,570 shares of the semiconductor company’s stock after selling 618,405 shares during the period. Dimensional Fund Advisors LP’s holdings in Semtech were worth $2,318,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SMTC. Fidelis Capital Partners LLC purchased a new position in Semtech during the first quarter valued at $27,000. Ridgewood Investments LLC bought a new position in Semtech in the 2nd quarter worth about $44,000. GAMMA Investing LLC grew its position in Semtech by 83.9% during 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 increased its stake in Semtech by 205.0% during 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 in the last quarter. Finally, CWM LLC raised its holdings 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 buying an additional 1,384 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SMTC shares. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. B. Riley lifted their target price on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Stifel Nicolaus upped their price target on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Finally, Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Stock Up 3.4 %

Semtech stock opened at $44.00 on Friday. The business has a 50-day simple moving average of $39.78 and a two-hundred day simple moving average of $36.05. Semtech Co. has a 52-week low of $13.13 and a 52-week high of $49.53. The company has a market cap of $3.31 billion, a P/E ratio of -3.25 and a beta of 1.54.

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