Paradigm Capital Management Inc. NY Sells 562,200 Shares of Semtech Co. (NASDAQ:SMTC)

Paradigm Capital Management Inc. NY lessened its stake in shares of Semtech Co. (NASDAQ:SMTC) by 96.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the semiconductor company’s stock after selling 562,200 shares during the period. Paradigm Capital Management Inc. NY’s holdings in Semtech were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SMTC. Vanguard Group Inc. grew its holdings in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares in the last quarter. Kodai Capital Management LP lifted its stake in shares of Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after purchasing an additional 54,267 shares during the last quarter. Contour Asset Management LLC boosted its stake in Semtech by 2.6% during the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock worth $32,072,000 after buying an additional 36,838 shares during the period. Goldman Sachs Group Inc. increased its position in Semtech by 19.4% during 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 acquiring an additional 197,595 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Semtech by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,231 shares of the semiconductor company’s stock valued at $18,913,000 after acquiring an additional 81,825 shares during the period.

Semtech Stock Performance

NASDAQ SMTC opened at $46.22 on Tuesday. Semtech Co. has a one year low of $13.13 and a one year high of $47.49. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -2.73 and a beta of 1.54. The company’s 50-day simple moving average is $36.45 and its two-hundred day simple moving average is $34.16.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on SMTC. Susquehanna upped their price target on shares of Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, June 6th. Benchmark reaffirmed a “buy” rating and set a $56.00 target price on shares of Semtech in a research note on Monday, September 9th. Roth Mkm reissued a “buy” rating and set a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Three investment 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.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $52.60.

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.