2,000 Shares in Semtech Co. (NASDAQ:SMTC) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in Semtech Co. (NASDAQ:SMTC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the semiconductor company’s stock, valued at approximately $60,000.

A number of other institutional investors have also recently modified their holdings of SMTC. Vanguard Group Inc. boosted its stake in Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares in the last quarter. Kodai Capital Management LP grew its holdings in shares of Semtech by 2.7% during the first quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after buying an additional 54,267 shares during the last quarter. Contour Asset Management LLC increased its position in shares of Semtech by 2.6% during the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after acquiring an additional 36,838 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Semtech by 19.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock worth $26,679,000 after acquiring an additional 197,595 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Semtech by 42.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 611,250 shares of the semiconductor company’s stock valued at $13,392,000 after acquiring an additional 183,550 shares in the last quarter.

Semtech Price Performance

NASDAQ:SMTC opened at $46.35 on Monday. Semtech Co. has a one year low of $13.13 and a one year high of $49.53. The business has a fifty day moving average price of $37.56 and a 200-day moving average price of $34.84. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -2.74 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. The business’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities research analysts expect that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on SMTC. Stifel Nicolaus lifted their target price on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. StockNews.com upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Roth Mkm restated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Finally, Northland Securities lifted their target price on shares of Semtech from $36.50 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. 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 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.