13,371 Shares in Semtech Co. (NASDAQ:SMTC) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,371 shares of the semiconductor company’s stock, valued at approximately $400,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 purchasing an additional 131,133 shares in the last quarter. Kodai Capital Management LP increased its stake in Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock worth $56,075,000 after acquiring an additional 54,267 shares during the last quarter. Contour Asset Management LLC raised its holdings in shares of Semtech by 2.6% during the 4th quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock worth $32,072,000 after acquiring an additional 36,838 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Semtech by 19.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock worth $26,679,000 after acquiring an additional 197,595 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Semtech by 42.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 611,250 shares of the semiconductor company’s stock valued at $13,392,000 after acquiring an additional 183,550 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SMTC shares. Susquehanna upped their price target on shares of Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, June 6th. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating 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. Northland Securities boosted their target price on Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Finally, StockNews.com upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.60.

Semtech Price Performance

Semtech stock opened at $46.35 on Friday. The firm has a 50-day moving average of $37.56 and a two-hundred day moving average of $34.68. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -2.74 and a beta of 1.54. Semtech Co. has a 1 year low of $13.13 and a 1 year high of $49.53.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm had revenue of $215.40 million during the quarter, compared to the consensus estimate of $212.30 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Research analysts expect that Semtech Co. will post -0.07 earnings per share for the current year.

About Semtech

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.