Natixis Advisors LLC Boosts Stake in Semtech Co. (NASDAQ:SMTC)

Natixis Advisors LLC increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 100.2% during the third quarter, HoldingsChannel reports. The fund owned 35,610 shares of the semiconductor company’s stock after buying an additional 17,823 shares during the period. Natixis Advisors LLC’s holdings in Semtech were worth $1,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SMTC. Vanguard Group Inc. increased its holdings in shares of Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after purchasing an additional 131,133 shares in the last quarter. Millennium Management LLC lifted its position in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in shares of Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Semtech during the 2nd quarter worth approximately $43,395,000. Finally, Clearline Capital LP grew its holdings in shares of Semtech by 143.1% in the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after acquiring an additional 529,194 shares during the period.

Semtech Price Performance

NASDAQ:SMTC opened at $53.44 on Tuesday. Semtech Co. has a 1-year low of $15.63 and a 1-year high of $53.74. The firm has a 50 day simple moving average of $45.83 and a 200-day simple moving average of $38.96. The firm has a market cap of $4.02 billion, a PE ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued 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 107.21%. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the prior year, the company posted $0.02 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Semtech Co. will post -0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Roth Mkm boosted their target price on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Stifel Nicolaus increased their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Susquehanna lifted their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Finally, Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.10.

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.