Cwm LLC Buys 818 Shares of Semtech Co. (NASDAQ:SMTC)

Cwm LLC grew its stake in Semtech Co. (NASDAQ:SMTC) by 33.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,230 shares of the semiconductor company’s stock after acquiring an additional 818 shares during the quarter. Cwm LLC’s holdings in Semtech were worth $147,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in Semtech in the 1st quarter worth about $27,000. Ridgewood Investments LLC bought a new position in shares of Semtech in the second quarter worth approximately $44,000. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the second quarter valued at approximately $60,000. Quarry LP purchased a new stake in Semtech during the 2nd quarter valued at $63,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Semtech in the second quarter worth $85,000.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $44.11 on Friday. The firm’s 50 day simple moving average is $42.23 and its two-hundred day simple moving average is $37.00. The company has a market capitalization of $3.32 billion, a P/E ratio of -3.26 and a beta of 1.54. Semtech Co. has a 1-year low of $13.13 and a 1-year high of $49.53.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $215.40 million during the quarter, compared to analyst estimates of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. Semtech’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, sell-side analysts anticipate that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. B. Riley increased their price target on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Finally, Benchmark restated a “buy” rating and set a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

About Semtech

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.