Semtech Co. (NASDAQ:SMTC) Stock Holdings Increased by NBC Securities Inc.

NBC Securities Inc. boosted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 115.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,377 shares of the semiconductor company’s stock after purchasing an additional 739 shares during the period. NBC Securities Inc.’s holdings in Semtech were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SMTC. Creative Planning increased its stake in shares of Semtech by 20.1% in the third quarter. Creative Planning now owns 21,637 shares of the semiconductor company’s stock worth $988,000 after acquiring an additional 3,619 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Semtech during the 3rd quarter valued at about $342,000. CWM LLC grew its stake in shares of Semtech by 33.9% in the 3rd quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 818 shares in the last quarter. GAMMA Investing LLC increased its holdings in Semtech by 76.0% in the third quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,185 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in Semtech in the second quarter valued at approximately $340,000.

Semtech Price Performance

Shares of Semtech stock opened at $43.88 on Monday. The company has a market cap of $2.84 billion, a PE ratio of -2.59 and a beta of 1.54. The firm has a fifty day moving average price of $41.34 and a two-hundred day moving average price of $36.70. Semtech Co. has a fifty-two week low of $13.13 and a fifty-two week high of $49.53.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $215.40 million for 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 revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share. Analysts expect that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMTC has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Benchmark restated a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. B. Riley raised their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus upped 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Semtech 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.