Versor Investments LP Decreases Stake in Semtech Co. (NASDAQ:SMTC)

Versor Investments LP trimmed its position in shares of Semtech Co. (NASDAQ:SMTC) by 69.8% during the third quarter, Holdings Channel reports. The institutional investor owned 7,600 shares of the semiconductor company’s stock after selling 17,600 shares during the quarter. Versor Investments LP’s holdings in Semtech were worth $347,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Semtech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after purchasing an additional 407 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after buying an additional 447 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares during the last quarter. Creative Planning boosted its position in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Semtech by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 700 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SMTC shares. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Finally, B. Riley lifted their target price on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.60.

Semtech Stock Down 6.8 %

NASDAQ SMTC opened at $44.10 on Friday. The firm has a market cap of $3.32 billion, a P/E ratio of -3.25 and a beta of 1.54. Semtech Co. has a 52-week low of $15.05 and a 52-week high of $53.22. The business’s 50-day moving average price is $44.72 and its 200 day moving average price is $38.52.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. During the same period last year, the business posted ($0.06) EPS. The company’s revenue was down 9.6% on a year-over-year basis. As a group, analysts anticipate that Semtech Co. will post -0.07 earnings per share for the current year.

About Semtech

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.