Amalgamated Bank Has $991,000 Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Amalgamated Bank raised its holdings in Semtech Co. (NASDAQ:SMTC) by 10.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,694 shares of the semiconductor company’s stock after buying an additional 1,995 shares during the quarter. Amalgamated Bank’s holdings in Semtech were worth $991,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new position in shares of Semtech during the third quarter valued at about $125,000. Harbor Capital Advisors Inc. raised its holdings in Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after acquiring an additional 24,517 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Semtech by 13.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 42,817 shares of the semiconductor company’s stock valued at $1,955,000 after acquiring an additional 4,910 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Semtech by 11.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the semiconductor company’s stock worth $1,657,000 after purchasing an additional 3,800 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares during the period.

Analysts Set New Price Targets

Several research analysts recently commented on SMTC shares. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. B. Riley lifted their target price on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Benchmark reissued a “buy” rating and issued a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

Semtech Stock Down 3.4 %

Shares of NASDAQ:SMTC opened at $47.33 on Friday. The firm has a market cap of $3.56 billion, a P/E ratio of -3.49 and a beta of 1.54. Semtech Co. has a 12 month low of $15.05 and a 12 month high of $53.22. The company’s 50-day moving average price is $44.63 and its two-hundred day moving average price is $38.47.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 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 down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, equities analysts predict that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

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.