Headlands Technologies LLC Acquires New Holdings in Semtech Co. (NASDAQ:SMTC)

Headlands Technologies LLC bought a new position in shares of Semtech Co. (NASDAQ:SMTC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 5,130 shares of the semiconductor company’s stock, valued at approximately $153,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Semtech by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 863,231 shares of the semiconductor company’s stock worth $18,913,000 after buying an additional 81,825 shares during the last quarter. Principal Securities Inc. bought a new position in Semtech in the 4th quarter worth about $238,000. Principal Financial Group Inc. boosted its position in shares of Semtech by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 396,224 shares of the semiconductor company’s stock valued at $8,681,000 after acquiring an additional 5,954 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Semtech during the fourth quarter worth about $287,000. Finally, King Luther Capital Management Corp purchased a new stake in Semtech in the fourth quarter valued at approximately $1,424,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SMTC. Susquehanna lifted their price objective on shares of Semtech from $45.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, June 6th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research 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. Benchmark reiterated a “buy” rating and set a $56.00 price target on shares of Semtech in a research report on Monday, September 9th. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Price Performance

Shares of SMTC opened at $41.63 on Friday. The company has a 50-day simple moving average of $35.39 and a two-hundred day simple moving average of $33.15. The firm has a market capitalization of $2.69 billion, a PE ratio of -2.46 and a beta of 1.54. Semtech Co. has a one year low of $13.13 and a one year high of $46.86.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter in the previous year, the business posted ($0.06) EPS. Semtech’s revenue was down 9.6% compared to the same quarter last year. Analysts expect that Semtech Co. will post -0.07 EPS for the current fiscal year.

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.