Crossmark Global Holdings Inc. Takes $201,000 Position in Semtech Co. (NASDAQ:SMTC)

Crossmark Global Holdings Inc. bought a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,386 shares of the semiconductor company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMTC. Ridgewood Investments LLC purchased a new stake in shares of Semtech in the 2nd quarter worth about $44,000. Canada Pension Plan Investment Board bought a new stake in Semtech during the 2nd quarter valued at approximately $60,000. NBC Securities Inc. grew its holdings in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares during the period. Quarry LP purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $63,000. Finally, CWM LLC boosted its position in shares of Semtech by 134.6% during the second quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,384 shares in the last quarter.

Analyst Upgrades and Downgrades

SMTC has been the subject of several recent research reports. Stifel Nicolaus raised their price objective on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Benchmark reissued a “buy” rating and set a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. B. Riley raised their target price on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, Roth Mkm reiterated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average price target of $52.60.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $45.84 on Tuesday. Semtech Co. has a 1 year low of $15.05 and a 1 year high of $53.22. The company has a market cap of $3.45 billion, a P/E ratio of -3.38 and a beta of 1.54. The stock’s fifty day moving average price is $44.84 and its 200-day moving average price is $38.58.

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

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.