Semtech Co. (NASDAQ:SMTC) Stock Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 10.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 354,505 shares of the semiconductor company’s stock after purchasing an additional 33,606 shares during the quarter. Principal Financial Group Inc.’s holdings in Semtech were worth $16,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Seven Eight Capital LP grew its position in Semtech by 259.4% in the 1st quarter. Seven Eight Capital LP now owns 51,573 shares of the semiconductor company’s stock worth $1,418,000 after purchasing an additional 37,224 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Semtech in the 2nd quarter worth about $13,239,000. Harbor Capital Advisors Inc. lifted its stake in shares of Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after acquiring an additional 24,517 shares during the period. Finally, SG Capital Management LLC acquired a new stake in shares of Semtech in the 1st quarter worth approximately $7,084,000.

Semtech Price Performance

SMTC stock opened at $44.10 on Friday. 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 PE ratio of -3.25 and a beta of 1.54. The firm has a 50 day simple moving average of $44.72 and a 200 day simple moving average of $38.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $215.40 million during the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. As a group, sell-side analysts expect that Semtech Co. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of research analyst reports. B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Stifel Nicolaus upped their price target on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

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.