Creative Planning Acquires 588 Shares of Semtech Co. (NASDAQ:SMTC)

Creative Planning increased its stake in shares of Semtech Co. (NASDAQ:SMTC) by 3.4% in the second quarter, Holdings Channel.com reports. The fund owned 18,018 shares of the semiconductor company’s stock after purchasing an additional 588 shares during the period. Creative Planning’s holdings in Semtech were worth $538,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in Semtech in the first quarter worth $27,000. Ridgewood Investments LLC purchased a new position in shares of Semtech during the second quarter valued at approximately $44,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 773 shares during the last quarter. Versant Capital Management Inc increased its stake in Semtech by 205.0% in the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,259 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Semtech during the second quarter valued at approximately $60,000.

Analyst Ratings Changes

A number of analysts recently weighed in on SMTC shares. Benchmark reiterated a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. B. Riley upped their price objective on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Semtech Stock Up 3.1 %

Shares of NASDAQ:SMTC opened at $45.38 on Tuesday. Semtech Co. has a 52-week low of $13.13 and a 52-week high of $49.53. The stock has a market cap of $2.93 billion, a P/E ratio of -2.68 and a beta of 1.54. The business has a fifty day moving average of $40.13 and a two-hundred day moving average of $36.31.

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