Semtech Co. (NASDAQ:SMTC) Shares Purchased by Creative Planning

Creative Planning raised its stake in shares of Semtech Co. (NASDAQ:SMTC) by 20.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,637 shares of the semiconductor company’s stock after buying an additional 3,619 shares during the period. Creative Planning’s holdings in Semtech were worth $988,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Arizona State Retirement System grew its stake in shares of Semtech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after purchasing an additional 407 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Semtech by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 461 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Semtech by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Semtech by 4.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock valued at $463,000 after acquiring an additional 710 shares in the last quarter. Finally, CWM LLC raised its position in Semtech by 33.9% during the third quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 818 shares in the last quarter.

Semtech Trading Up 0.8 %

Shares of SMTC stock opened at $44.54 on Friday. Semtech Co. has a 1 year low of $13.44 and a 1 year high of $49.53. The firm’s fifty day simple moving average is $43.36 and its 200 day simple moving average is $37.50. The firm has a market capitalization of $3.35 billion, a P/E ratio of -3.29 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly 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. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Equities research analysts anticipate that Semtech Co. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SMTC. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. B. Riley lifted their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, Summit Insights lowered shares of 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.