Semtech Co. (NASDAQ:SMTC) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in shares of Semtech Co. (NASDAQ:SMTC) by 105.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 589 shares of the semiconductor company’s stock after buying an additional 302 shares during the quarter. Huntington National Bank’s holdings in Semtech were worth $27,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its position in Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after acquiring an additional 407 shares during the last quarter. Hanseatic Management Services Inc. raised its position in shares of Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Semtech by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 461 shares in the last quarter. Creative Planning lifted its stake in Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Semtech by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock valued at $971,000 after buying an additional 700 shares during the last quarter.

Semtech Trading Up 3.1 %

Shares of SMTC opened at $47.24 on Wednesday. The stock’s fifty day simple moving average is $45.00 and its 200 day simple moving average is $38.64. Semtech Co. has a twelve month low of $15.05 and a twelve month high of $53.22. The firm has a market capitalization of $3.55 billion, a P/E ratio of -3.49 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. Sell-side analysts predict that Semtech Co. will post -0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

SMTC has been the topic of several recent research reports. Benchmark restated a “buy” rating and issued a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. B. Riley raised their target price on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price target on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

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.