Swiss National Bank lessened its holdings in Semtech Co. (NASDAQ:SMTC – Get Rating) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,800 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Swiss National Bank owned 0.24% of Semtech worth $8,344,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lazard Asset Management LLC increased its holdings in Semtech by 214.1% in the 2nd quarter. Lazard Asset Management LLC now owns 2,007 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 1,368 shares during the period. Walleye Capital LLC grew its holdings in shares of Semtech by 20.9% in the 2nd quarter. Walleye Capital LLC now owns 14,609 shares of the semiconductor company’s stock worth $803,000 after purchasing an additional 2,529 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Semtech by 9.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,041 shares of the semiconductor company’s stock worth $662,000 after purchasing an additional 1,081 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of Semtech by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 45,986 shares of the semiconductor company’s stock worth $2,528,000 after purchasing an additional 303 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Semtech in the 2nd quarter worth about $276,000. Institutional investors own 97.53% of the company’s stock.
Analyst Upgrades and Downgrades
SMTC has been the topic of several analyst reports. Needham & Company LLC lowered shares of Semtech to a “hold” rating in a report on Tuesday, August 9th. Susquehanna Bancshares lowered their target price on shares of Semtech to $56.00 in a report on Monday, August 29th. StockNews.com assumed coverage on shares of Semtech in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Benchmark reduced their price target on shares of Semtech to $65.00 in a research report on Tuesday, September 6th. Finally, Cowen downgraded shares of Semtech from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $65.00 to $43.00 in a research report on Thursday, September 1st. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Semtech has an average rating of “Hold” and a consensus price target of $63.42.
Semtech Stock Performance
Semtech (NASDAQ:SMTC – Get Rating) last released its earnings results on Wednesday, August 31st. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Semtech had a net margin of 19.94% and a return on equity of 21.18%. The company had revenue of $209.25 million for the quarter, compared to the consensus estimate of $208.29 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that Semtech Co. will post 2.18 earnings per share for the current year.
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.
- Get a free copy of the StockNews.com research report on Semtech (SMTC)
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