Semtech Co. (NASDAQ:SMTC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Semtech Co. (NASDAQ:SMTC) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,617,783 shares of the semiconductor company’s stock after acquiring an additional 119,572 shares during the period. Geode Capital Management LLC owned about 2.15% of Semtech worth $73,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SMTC. Nisa Investment Advisors LLC boosted its position in shares of Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares during the period. Louisiana State Employees Retirement System grew its position in Semtech by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 700 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Semtech during the second quarter valued at approximately $85,000. Ridgewood Investments LLC purchased a new stake in shares of Semtech during the second quarter valued at approximately $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Semtech by 4.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock worth $463,000 after purchasing an additional 710 shares in the last quarter.

Insider Activity

In related news, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at $232,127.94. This represents a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Northland Securities lifted their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Benchmark lifted their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. B. Riley increased their target price on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus lifted their price target on shares of Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.70.

Semtech Stock Down 0.0 %

SMTC opened at $63.55 on Friday. The company’s 50-day moving average price is $53.30 and its 200 day moving average price is $42.11. Semtech Co. has a fifty-two week low of $18.16 and a fifty-two week high of $70.27. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -4.87 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate 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 revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. Research analysts anticipate that Semtech Co. will post -0.01 earnings per share for the current year.

Semtech Company 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.