Lazard Asset Management LLC Purchases 1,368 Shares of Semtech Co. (NASDAQ:SMTC)

Lazard Asset Management LLC boosted its position in shares of Semtech Co. (NASDAQ:SMTCGet Rating) by 214.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,007 shares of the semiconductor company’s stock after acquiring an additional 1,368 shares during the quarter. Lazard Asset Management LLC’s holdings in Semtech were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMTC. CWM LLC raised its position in Semtech by 130.3% during the second quarter. CWM LLC now owns 585 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 331 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Semtech in the first quarter valued at $44,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Semtech by 33.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,232 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 312 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Semtech by 186.5% in the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 664 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Semtech by 368.4% in the second quarter. Assetmark Inc. now owns 1,363 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 1,072 shares during the last quarter. 97.53% of the stock is owned by institutional investors.

Semtech Trading Up 2.8 %

SMTC opened at $29.62 on Wednesday. Semtech Co. has a twelve month low of $25.29 and a twelve month high of $92.15. The company has a 50-day simple moving average of $28.77 and a 200 day simple moving average of $45.25. The company has a quick ratio of 3.35, a current ratio of 4.12 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.90 and a beta of 1.64.

Semtech (NASDAQ:SMTCGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. Semtech had a net margin of 19.94% and a return on equity of 21.18%. The business had revenue of $209.25 million during the quarter, compared to analysts’ expectations of $208.29 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. Semtech’s revenue was up 13.1% compared to the same quarter last year. Analysts predict that Semtech Co. will post 2.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Benchmark decreased their price objective on shares of Semtech to $65.00 in a report on Tuesday, September 6th. StockNews.com assumed coverage on shares of Semtech in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. B. Riley decreased their price objective on shares of Semtech from $53.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Cowen downgraded shares of Semtech from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $65.00 to $43.00 in a report on Thursday, September 1st. Finally, Piper Sandler decreased their price target on shares of Semtech from $95.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, September 1st. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has an average rating of “Hold” and an average target price of $58.83.

Semtech Company Profile

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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.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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