Intech Investment Management LLC Has $1.39 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Intech Investment Management LLC boosted its position in shares of Semtech Co. (NASDAQ:SMTC) by 128.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,521 shares of the semiconductor company’s stock after purchasing an additional 17,150 shares during the period. Intech Investment Management LLC’s holdings in Semtech were worth $1,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN raised its stake in shares of Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after purchasing an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Semtech during the second quarter valued at approximately $43,395,000. Millennium Management LLC lifted its stake in 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 acquiring an additional 765,877 shares during the last quarter. Clearline Capital LP grew its position in Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after acquiring an additional 529,194 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of Semtech during the 2nd quarter worth $14,307,000.

Semtech Trading Up 18.1 %

Shares of Semtech stock opened at $63.11 on Wednesday. The company 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 1 year low of $15.63 and a 1 year high of $66.64. The company’s fifty day simple moving average is $45.83 and its 200-day simple moving average is $38.96.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same period last year, the business posted $0.02 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts forecast that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SMTC. Northland Securities lifted their price objective on shares of Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Craig Hallum upped their price target on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus boosted their target price on Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research 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, the company presently has an average rating of “Moderate Buy” and an average target price 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.