Clearline Capital LP Boosts Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Clearline Capital LP lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 143.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 899,021 shares of the semiconductor company’s stock after acquiring an additional 529,194 shares during the period. Semtech makes up about 0.7% of Clearline Capital LP’s holdings, making the stock its 9th largest holding. Clearline Capital LP’s holdings in Semtech were worth $26,863,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Semtech by 1.6% during 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. Millennium Management LLC lifted its holdings in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after acquiring an additional 765,877 shares during the period. Kodai Capital Management LP increased its stake in Semtech by 2.7% in the first quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after acquiring an additional 54,267 shares during the period. Contour Asset Management LLC raised its position in Semtech by 2.6% in the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock worth $32,072,000 after purchasing an additional 36,838 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Semtech during the second quarter valued at approximately $43,395,000.

Semtech Trading Down 2.2 %

Shares of SMTC stock opened at $46.35 on Friday. Semtech Co. has a 1 year low of $13.13 and a 1 year high of $49.53. The firm’s 50 day moving average is $37.56 and its 200-day moving average is $34.76. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -2.74 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, equities research analysts forecast that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SMTC shares. StockNews.com upgraded Semtech from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. B. Riley lifted their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Susquehanna raised 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

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.