10,666 Shares in Semtech Co. (NASDAQ:SMTC) Purchased by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,666 shares of the semiconductor company’s stock, valued at approximately $487,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMTC. Huntington National Bank increased its holdings in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Semtech by 2.3% in the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after purchasing an additional 407 shares during the last quarter. Hanseatic Management Services Inc. raised its position in shares of Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after purchasing an additional 447 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after buying an additional 588 shares during the period.

Semtech Stock Performance

SMTC opened at $66.12 on Friday. Semtech Co. has a 52-week low of $18.03 and a 52-week high of $70.27. The firm has a market cap of $5.00 billion, a P/E ratio of -5.07 and a beta of 1.65. The business’s fifty day moving average is $49.27 and its 200-day moving average is $40.56.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on SMTC. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target (up from $50.00) on shares of Semtech in a report on Tuesday, November 26th. B. Riley increased their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus boosted their price target on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Northland Securities increased their price objective on Semtech from $46.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Finally, Craig Hallum lifted their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.70.

Semtech 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.