International Assets Investment Management LLC Acquires 1,652 Shares of Semtech Co. (NASDAQ:SMTC)

International Assets Investment Management LLC lifted its holdings in Semtech Co. (NASDAQ:SMTC) by 4,464.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,689 shares of the semiconductor company’s stock after purchasing an additional 1,652 shares during the quarter. International Assets Investment Management LLC’s holdings in Semtech were worth $77,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Semtech by 1.6% during the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after acquiring an additional 131,133 shares in the last quarter. Millennium Management LLC increased its stake in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Semtech by 343.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares during the period. Kodai Capital Management LP lifted its stake in Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after purchasing an additional 54,267 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Semtech during the second quarter worth about $43,395,000.

Semtech Stock Up 5.9 %

NASDAQ SMTC opened at $50.58 on Friday. The firm has a 50-day moving average price of $43.93 and a two-hundred day moving average price of $37.92. Semtech Co. has a 12-month low of $13.65 and a 12-month high of $50.62. The company has a market capitalization of $3.80 billion, a P/E ratio of -3.73 and a beta of 1.54.

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, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. Equities analysts expect that Semtech Co. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SMTC. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm restated a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Finally, B. Riley lifted their target price on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.60.

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.