Barclays PLC Sells 21,018 Shares of Semtech Co. (NASDAQ:SMTC)

Barclays PLC decreased its position in Semtech Co. (NASDAQ:SMTC) by 12.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,232 shares of the semiconductor company’s stock after selling 21,018 shares during the period. Barclays PLC owned 0.20% of Semtech worth $6,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMTC. Millennium Management LLC boosted its stake in shares of Semtech by 26.6% in the 2nd 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. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 343.3% in 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 bought a new position in Semtech in the second quarter valued at approximately $43,395,000. Charles Schwab Investment Management Inc. grew its holdings in Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock worth $48,303,000 after acquiring an additional 100,410 shares during the period. Finally, Clearline Capital LP raised its position in shares of Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after acquiring an additional 529,194 shares during the last quarter.

Semtech Trading Down 4.3 %

Shares of NASDAQ SMTC opened at $62.92 on Thursday. The company has a fifty day moving average price of $52.88 and a 200 day moving average price of $41.96. Semtech Co. has a 1-year low of $18.16 and a 1-year high of $70.27. The firm has a market cap of $4.76 billion, a PE ratio of -4.82 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. Equities research analysts forecast that Semtech Co. will post -0.01 EPS for the current year.

Analyst Ratings Changes

SMTC has been the topic of several recent research reports. Northland Securities raised their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Benchmark boosted their target price on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC lifted their price objective on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm increased their target price on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.70.

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.