Inspire Investing LLC Sells 1,072 Shares of Semtech Co. (NASDAQ:SMTC)

Inspire Investing LLC reduced its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,852 shares of the semiconductor company’s stock after selling 1,072 shares during the quarter. Inspire Investing LLC’s holdings in Semtech were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SMTC. Kodai Capital Management LP bought a new position in Semtech in the fourth quarter valued at $43,504,000. Assenagon Asset Management S.A. acquired a new stake in shares of Semtech in the second quarter valued at about $13,239,000. SG Americas Securities LLC raised its holdings in Semtech by 5,613.9% during the first quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company’s stock worth $11,735,000 after acquiring an additional 419,415 shares in the last quarter. SG Capital Management LLC acquired a new position in Semtech during the first quarter valued at approximately $7,084,000. Finally, Goldman Sachs Group Inc. grew its stake in Semtech by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock valued at $26,679,000 after purchasing an additional 197,595 shares in the last quarter.

Semtech Stock Down 0.2 %

Shares of SMTC stock opened at $46.00 on Monday. The company has a market capitalization of $3.46 billion, a PE ratio of -2.72 and a beta of 1.54. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $47.49. The firm has a 50 day moving average price of $36.25 and a two-hundred day moving average price of $34.00.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Susquehanna upped their price objective on Semtech from $45.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and set a $60.00 price objective (up from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. Finally, Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $52.60.

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.