Natixis Advisors LLC Grows Stock Position in Semtech Co. (NASDAQ:SMTC)

Natixis Advisors LLC raised its stake in Semtech Co. (NASDAQ:SMTC) by 100.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,610 shares of the semiconductor company’s stock after purchasing an additional 17,823 shares during the period. Natixis Advisors LLC’s holdings in Semtech were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc acquired a new stake in Semtech in the third quarter valued at approximately $216,000. Huntington National Bank increased its position in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Semtech by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,855 shares of the semiconductor company’s stock valued at $678,000 after purchasing an additional 3,222 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Semtech by 130.7% during the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock worth $37,633,000 after purchasing an additional 466,868 shares during the last quarter. Finally, Lisanti Capital Growth LLC grew its stake in shares of Semtech by 60.2% during the third quarter. Lisanti Capital Growth LLC now owns 104,065 shares of the semiconductor company’s stock worth $4,752,000 after purchasing an additional 39,110 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMTC. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. B. Riley increased their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Benchmark reissued a “buy” rating and set a $56.00 price objective on shares of Semtech in a report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Finally, Summit Insights lowered 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.10.

Semtech Stock Up 5.0 %

SMTC opened at $53.44 on Tuesday. Semtech Co. has a 52 week low of $15.63 and a 52 week high of $53.74. The business has a 50 day moving average price of $45.83 and a two-hundred day moving average price of $38.96. The company has a market cap of $4.02 billion, a PE ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. As a group, sell-side 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.