Semtech Co. (NASDAQ:SMTC) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 198.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 414,801 shares of the semiconductor company’s stock after acquiring an additional 275,717 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Semtech were worth $18,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Disciplined Growth Investors Inc. MN increased its holdings in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after buying an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Semtech in the 2nd quarter valued at about $43,395,000. Millennium Management LLC grew its holdings in Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the period. Clearline Capital LP increased its stake 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 last quarter. Finally, Fred Alger Management LLC purchased a new stake in shares of Semtech in the 2nd quarter valued at $14,307,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SMTC. Susquehanna upped their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Stifel Nicolaus upped their target price on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price (up from $50.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, Craig Hallum upped their price objective on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Stock Down 5.4 %

Shares of NASDAQ SMTC opened at $65.38 on Friday. Semtech Co. has a 12 month low of $16.65 and a 12 month high of $70.27. The company has a market cap of $4.92 billion, a P/E ratio of -5.01 and a beta of 1.65. The business’s 50 day moving average is $48.51 and its two-hundred day moving average is $40.20.

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, beating analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same period in the prior year, the firm earned $0.02 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts expect that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

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.