Inspire Investing LLC Sells 1,815 Shares of Semtech Co. (NASDAQ:SMTC)

Inspire Investing LLC cut its stake in Semtech Co. (NASDAQ:SMTC) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,037 shares of the semiconductor company’s stock after selling 1,815 shares during the quarter. Inspire Investing LLC’s holdings in Semtech were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SMTC. Arizona State Retirement System boosted its stake in 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. Nisa Investment Advisors LLC boosted its position in shares of Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 461 shares during the period. Creative Planning grew its stake in shares of Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after acquiring an additional 588 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Semtech by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after acquiring an additional 700 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Semtech by 4.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock worth $463,000 after purchasing an additional 710 shares in the last quarter.

Wall Street Analysts Forecast Growth

SMTC has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Roth Mkm reissued a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Stifel Nicolaus increased their target price on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Semtech Stock Down 2.7 %

NASDAQ:SMTC opened at $44.14 on Wednesday. Semtech Co. has a twelve month low of $13.13 and a twelve month high of $49.53. The stock’s 50-day simple moving average is $40.44 and its 200 day simple moving average is $36.43. The firm has a market capitalization of $2.85 billion, a PE ratio of -2.61 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted ($0.06) EPS. On average, analysts anticipate that Semtech Co. will post -0.07 EPS for the current fiscal 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.