nVerses Capital LLC Makes New Investment in Semtech Co. (NASDAQ:SMTC)

nVerses Capital LLC purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,700 shares of the semiconductor company’s stock, valued at approximately $169,000.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. increased its stake in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the last quarter. Creative Planning increased its position in Semtech by 20.1% during the third quarter. Creative Planning now owns 21,637 shares of the semiconductor company’s stock worth $988,000 after purchasing an additional 3,619 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Semtech during the third quarter worth approximately $342,000. CWM LLC boosted its holdings in shares of Semtech by 33.9% in the 3rd quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 818 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Semtech by 76.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 1,185 shares during the last quarter.

Semtech Stock Performance

Shares of SMTC stock opened at $43.88 on Friday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -2.59 and a beta of 1.54. Semtech Co. has a one year low of $13.13 and a one year high of $49.53. The company’s 50-day simple moving average is $41.34 and its 200-day simple moving average is $36.70.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $212.30 million. During the same quarter last year, the firm earned ($0.06) EPS. The business’s revenue was down 9.6% on a year-over-year basis. As a group, research analysts forecast that Semtech Co. will post -0.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. B. Riley increased 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, Benchmark restated a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Three 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, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

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.