Mutual of America Capital Management LLC Raises Position in Semtech Co. (NASDAQ:SMTC)

Mutual of America Capital Management LLC lifted its stake in Semtech Co. (NASDAQ:SMTC) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,285 shares of the semiconductor company’s stock after purchasing an additional 673 shares during the period. Mutual of America Capital Management LLC’s holdings in Semtech were worth $515,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Huntington National Bank increased its position in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the period. Ridgewood Investments LLC purchased a new stake in Semtech in the 2nd quarter worth approximately $44,000. International Assets Investment Management LLC raised its stake in Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Semtech during the second quarter valued at approximately $60,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Craig Hallum lifted their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Roth Mkm upped their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. B. Riley lifted their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Price Performance

NASDAQ SMTC opened at $63.11 on Wednesday. Semtech Co. has a 1-year low of $15.63 and a 1-year high of $66.64. The company has a market cap of $4.75 billion, a PE ratio of -4.66 and a beta of 1.54. The stock’s 50 day simple moving average is $45.83 and its 200-day simple moving average is $38.96.

Semtech (NASDAQ:SMTC) last issued its 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 business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts anticipate 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.