BNP Paribas Financial Markets Sells 365,345 Shares of Semtech Co. (NASDAQ:SMTC)

BNP Paribas Financial Markets trimmed its position in shares of Semtech Co. (NASDAQ:SMTCFree Report) by 91.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,733 shares of the semiconductor company’s stock after selling 365,345 shares during the period. BNP Paribas Financial Markets’ holdings in Semtech were worth $1,632,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares in the last quarter. NBC Securities Inc. boosted its stake in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Semtech in the 2nd quarter valued at $44,000. International Assets Investment Management LLC raised its stake in shares of Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 1,652 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Semtech during the 2nd quarter worth about $60,000.

Semtech Price Performance

SMTC opened at $66.12 on Friday. The stock has a market capitalization of $5.00 billion, a P/E ratio of -5.07 and a beta of 1.65. The company’s 50 day simple moving average is $49.27 and its 200-day simple moving average is $40.56. Semtech Co. has a one year low of $18.03 and a one year high of $70.27.

Semtech (NASDAQ:SMTCGet Free Report) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. As a group, analysts anticipate that Semtech Co. will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SMTC. Roth Mkm increased their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Craig Hallum raised their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus upped their price target on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Northland Securities lifted their price objective on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Finally, Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a 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, the company has an average rating of “Moderate Buy” and a consensus price target of $67.70.

Check Out Our Latest Analysis on SMTC

Semtech Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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