Oppenheimer Asset Management Inc. Buys Shares of 11,633 Semtech Co. (NASDAQ:SMTC)

Oppenheimer Asset Management Inc. purchased a new position in Semtech Co. (NASDAQ:SMTC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,633 shares of the semiconductor company’s stock, valued at approximately $348,000.

Other large investors also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Semtech in the first quarter worth approximately $27,000. Ridgewood Investments LLC acquired a new stake in shares of Semtech in the second quarter valued at $44,000. GAMMA Investing LLC boosted its stake in Semtech by 83.9% during the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 773 shares in the last quarter. Versant Capital Management Inc grew its holdings in Semtech by 205.0% during the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 1,259 shares during the period. Finally, Cape Investment Advisory Inc. bought a new stake in Semtech in the fourth quarter worth about $63,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMTC. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Northland Securities increased their price objective on Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Roth Mkm reissued a “buy” rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Stifel Nicolaus boosted their target price on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.60.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $46.00 on Friday. The stock has a market capitalization of $3.46 billion, a P/E ratio of -2.72 and a beta of 1.54. The business has a 50-day moving average of $36.25 and a two-hundred day moving average of $33.93. Semtech Co. has a fifty-two week low of $13.13 and a fifty-two week high of $47.49.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $212.30 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. As a group, research analysts expect that Semtech Co. will post -0.07 EPS for the current fiscal 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.