Semtech Co. (NASDAQ:SMTC) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Semtech Co. (NASDAQ:SMTC) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,057,880 shares of the semiconductor company’s stock after purchasing an additional 100,410 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.41% of Semtech worth $48,303,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SMTC. Huntington National Bank boosted its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Semtech during the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board acquired a new position in shares of Semtech in the 2nd quarter valued at $60,000. NBC Securities Inc. grew its position in shares of Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares during the last quarter. Finally, Quarry LP acquired a new stake in Semtech during the 2nd quarter worth $63,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on SMTC shares. Roth Mkm upped their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Craig Hallum upped their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Susquehanna lifted their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. B. Riley increased their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Benchmark lifted their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Price Performance

NASDAQ:SMTC opened at $64.04 on Monday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -4.91 and a beta of 1.54. The firm’s fifty day moving average price is $47.37 and its 200 day moving average price is $39.65. Semtech Co. has a 1-year low of $15.63 and a 1-year high of $66.64.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, analysts expect that Semtech Co. will post -0.02 earnings per share 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.