Mutual of America Capital Management LLC Raises Stake in Semtech Co. (NASDAQ:SMTC)

Mutual of America Capital Management LLC boosted its position in shares of Semtech Co. (NASDAQ:SMTC) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,285 shares of the semiconductor company’s stock after acquiring an additional 673 shares during the period. Mutual of America Capital Management LLC’s holdings in Semtech were worth $515,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Huntington National Bank increased its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the last quarter. NBC Securities Inc. boosted its position 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 worth $62,000 after acquiring an additional 739 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Semtech in the 2nd quarter valued at about $44,000. International Assets Investment Management LLC raised its position in shares of Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Semtech during the second quarter worth approximately $60,000.

Semtech Stock Up 18.1 %

Shares of SMTC opened at $63.11 on Wednesday. The business’s 50 day moving average is $45.83 and its two-hundred day moving average is $38.96. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -4.66 and a beta of 1.54. Semtech Co. has a 52-week low of $15.63 and a 52-week high of $66.64.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. On average, equities analysts expect that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SMTC shares. Susquehanna boosted their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Benchmark boosted their price target on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm boosted their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Finally, Summit Insights cut 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

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.