Versor Investments LP Decreases Stock Position in Semtech Co. (NASDAQ:SMTC)

Versor Investments LP cut its position in Semtech Co. (NASDAQ:SMTC) by 69.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,600 shares of the semiconductor company’s stock after selling 17,600 shares during the period. Versor Investments LP’s holdings in Semtech were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN raised its holdings in Semtech by 343.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Semtech in the second quarter valued at approximately $43,395,000. Millennium Management LLC increased its holdings in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the last quarter. Clearline Capital LP lifted its position in Semtech by 143.1% during the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after buying an additional 529,194 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in Semtech during the second quarter worth $14,307,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMTC. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Benchmark reissued a “buy” rating and issued a $56.00 price target on shares of Semtech in a research note on Monday, October 7th. 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. Finally, Summit Insights lowered 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

Semtech Trading Down 6.8 %

SMTC opened at $44.10 on Friday. The stock’s 50-day moving average price is $44.72 and its 200 day moving average price is $38.52. Semtech Co. has a 12-month low of $15.05 and a 12-month high of $53.22. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -3.25 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts forecast 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.