Grantham Mayo Van Otterloo & Co. LLC Purchases Shares of 13,600 Semtech Co. (NASDAQ:SMTC)

Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Semtech Co. (NASDAQ:SMTC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,600 shares of the semiconductor company’s stock, valued at approximately $328,000.

Several other institutional investors also recently modified their holdings of the stock. Sei Investments Co. raised its stake in Semtech by 565.0% during the 1st quarter. Sei Investments Co. now owns 206,638 shares of the semiconductor company’s stock valued at $4,988,000 after purchasing an additional 175,565 shares during the period. Ethic Inc. raised its stake in Semtech by 18.9% during the 1st quarter. Ethic Inc. now owns 14,537 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 2,310 shares during the period. Dimensional Fund Advisors LP raised its stake in Semtech by 29.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,381,071 shares of the semiconductor company’s stock valued at $33,341,000 after purchasing an additional 312,621 shares during the period. Aviva PLC raised its stake in Semtech by 34.2% during the 1st quarter. Aviva PLC now owns 47,313 shares of the semiconductor company’s stock valued at $1,142,000 after purchasing an additional 12,049 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Semtech during the 1st quarter valued at $619,000.

Wall Street Analyst Weigh In

SMTC has been the topic of several recent analyst reports. Craig Hallum initiated coverage on shares of Semtech in a research note on Wednesday, June 21st. They set a “buy” rating on the stock. StockNews.com started coverage on shares of Semtech in a report on Thursday, August 17th. They set a “sell” rating on the stock. Needham & Company LLC upgraded shares of Semtech from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday. Susquehanna lowered their price target on shares of Semtech from $30.00 to $25.00 in a report on Thursday, June 1st. Finally, Roth Mkm restated a “buy” rating and set a $56.00 price target on shares of Semtech in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Semtech Stock Up 0.9 %

SMTC stock opened at $25.60 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.14 and a quick ratio of 1.46. Semtech Co. has a 52-week low of $17.82 and a 52-week high of $35.68. The company has a 50-day moving average of $26.70 and a two-hundred day moving average of $25.18. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -284.44 and a beta of 1.70.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, June 7th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.10. Semtech had a negative net margin of 0.77% and a positive return on equity of 8.83%. The company had revenue of $236.50 million during the quarter, compared to analysts’ expectations of $235.00 million. During the same period in the prior year, the company earned $0.67 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Semtech Co. will post -0.06 EPS for the current year.

About Semtech

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.