Pier Capital LLC lowered its holdings in Semtech Co. (NASDAQ:SMTC) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,721 shares of the semiconductor company’s stock after selling 14,219 shares during the quarter. Pier Capital LLC owned about 0.23% of Semtech worth $5,660,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC grew its position in Semtech by 15.5% in the 2nd quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock valued at $299,446,000 after purchasing an additional 1,124,083 shares during the period. Vanguard Group Inc. lifted its stake in Semtech by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock valued at $217,384,000 after acquiring an additional 75,993 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Semtech by 21.1% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock valued at $94,178,000 after acquiring an additional 459,808 shares in the last quarter. State Street Corp lifted its stake in Semtech by 4.8% during the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock valued at $68,013,000 after acquiring an additional 86,399 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Semtech by 29.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock valued at $48,338,000 after acquiring an additional 309,928 shares in the last quarter. 94.23% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. B. Riley restated a “buy” rating and set a $46.00 price objective (down from $48.00) on shares of Semtech in a research note on Monday, November 27th. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Drexel Hamilton restated a “buy” rating and set a $45.00 price objective on shares of Semtech in a research note on Thursday, August 31st. Oppenheimer restated a “buy” rating and set a $42.00 price objective on shares of Semtech in a research note on Sunday, November 19th. Finally, BWS Financial assumed coverage on Semtech in a research note on Monday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Semtech currently has an average rating of “Buy” and an average target price of $43.29.
Semtech Co. (SMTC) opened at $33.80 on Tuesday. The firm has a market capitalization of $2,259.50, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 5.54 and a beta of 1.41. Semtech Co. has a 52 week low of $30.00 and a 52 week high of $41.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80.
Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.04. The company had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. equities research analysts anticipate that Semtech Co. will post 1.23 earnings per share for the current year.
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Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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