Van ECK Associates Corp Purchases Shares of 2,801 Semtech Co. (NASDAQ:SMTC)

Van ECK Associates Corp purchased a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,801 shares of the semiconductor company’s stock, valued at approximately $125,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Semtech by 1.6% during the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares during the last quarter. Millennium Management LLC raised its position in shares of Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Semtech by 343.3% during 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 last quarter. Kodai Capital Management LP raised its position in shares of Semtech by 2.7% during 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 buying an additional 54,267 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Semtech during the second quarter valued at about $43,395,000.

Semtech Trading Down 0.4 %

Shares of Semtech stock opened at $49.01 on Thursday. Semtech Co. has a 1-year low of $14.82 and a 1-year high of $53.22. The firm’s 50-day moving average price is $44.53 and its two-hundred day moving average price is $38.41. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -3.62 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released 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. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. Semtech’s revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Semtech Co. will post -0.07 EPS for the current year.

Analysts Set New Price Targets

SMTC has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Benchmark reissued a “buy” rating and issued a $56.00 price target on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus increased their price target on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Roth Mkm reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target 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.