68,683 Shares in Semtech Co. (NASDAQ:SMTC) Acquired by PDT Partners LLC

PDT Partners LLC bought a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the 3rd quarter, HoldingsChannel reports. The firm bought 68,683 shares of the semiconductor company’s stock, valued at approximately $3,136,000.

A number of other large investors have also recently added to or reduced their stakes in SMTC. Harbor Capital Advisors Inc. increased its holdings in shares of Semtech by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 18,043 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 3,370 shares in the last quarter. CWM LLC raised its position in shares of Semtech by 134.6% during the second quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,384 shares during the period. Friedenthal Financial acquired a new stake in shares of Semtech during the second quarter worth $748,000. ORG Partners LLC lifted its holdings in shares of Semtech by 1,441.5% during the second quarter. ORG Partners LLC now owns 7,276 shares of the semiconductor company’s stock valued at $229,000 after purchasing an additional 6,804 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Semtech during the second quarter valued at $13,239,000.

Semtech Price Performance

SMTC opened at $64.04 on Friday. Semtech Co. has a fifty-two week low of $15.63 and a fifty-two week high of $66.64. The business has a 50-day moving average of $47.00 and a 200-day moving average of $39.47. The company has a market capitalization of $4.82 billion, a PE ratio of -4.91 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same period last year, the business earned $0.02 EPS. The business’s quarterly revenue was up 17.9% 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

Several equities research analysts have recently commented on SMTC shares. Craig Hallum upped their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. Northland Securities upped their target price on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday. Benchmark upped their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.70.

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.