Crossmark Global Holdings Inc. Makes New $201,000 Investment in Semtech Co. (NASDAQ:SMTC)

Crossmark Global Holdings Inc. purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,386 shares of the semiconductor company’s stock, valued at approximately $201,000.

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

Semtech Stock Performance

NASDAQ SMTC opened at $45.84 on Tuesday. The stock has a 50 day moving average price of $44.84 and a 200-day moving average price of $38.58. Semtech Co. has a one year low of $15.05 and a one year high of $53.22. The company has a market capitalization of $3.45 billion, a P/E ratio of -3.38 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $212.30 million. During the same quarter last year, the business earned ($0.06) earnings per share. Semtech’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts predict that Semtech Co. will post -0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SMTC. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Roth Mkm restated a “buy” rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Stifel Nicolaus raised 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. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Benchmark reiterated a “buy” rating and set a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Semtech 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.