Oregon Public Employees Retirement Fund reduced its stake in Semtech Co. (NASDAQ:SMTC – Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,463 shares of the semiconductor company’s stock after selling 650 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Semtech were worth $494,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in shares of Semtech in the second quarter valued at about $41,000. Captrust Financial Advisors boosted its position 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 acquiring an additional 664 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Semtech in the first quarter valued at about $84,000. Elequin Securities LLC bought a new stake in shares of Semtech in the fourth quarter valued at about $38,000. Finally, Covestor Ltd boosted its position in shares of Semtech by 123.9% in the first quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 773 shares during the period.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on SMTC shares. Stifel Nicolaus reduced their target price on shares of Semtech from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. TheStreet raised shares of Semtech from a “d+” rating to a “c-” rating in a research report on Monday, July 31st. Craig Hallum assumed coverage on shares of Semtech in a research report on Wednesday, June 21st. They set a “buy” rating for the company. Susquehanna cut their price objective on shares of Semtech from $30.00 to $25.00 in a research report on Thursday, June 1st. Finally, StockNews.com cut shares of Semtech from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.10.
Semtech Stock Down 2.6 %
Shares of NASDAQ SMTC opened at $25.35 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.82. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -281.67 and a beta of 1.72. Semtech Co. has a 12 month low of $17.82 and a 12 month high of $55.14. The stock has a 50-day moving average price of $25.83 and a two-hundred day moving average price of $26.15.
Semtech (NASDAQ:SMTC – Get Free Report) last issued its earnings results on Wednesday, June 7th. The semiconductor company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.10. Semtech had a positive return on equity of 8.83% and a negative net margin of 0.77%. The firm had revenue of $236.50 million during the quarter, compared to the consensus estimate of $235.00 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts forecast that Semtech Co. will post -0.06 earnings per share for the current fiscal year.
Semtech Profile
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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