Wellington Management Group LLP Invests $10.56 Million in Semtech Co. (NASDAQ:SMTC)

Wellington Management Group LLP purchased a new position in shares of Semtech Co. (NASDAQ:SMTC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 231,191 shares of the semiconductor company’s stock, valued at approximately $10,556,000. Wellington Management Group LLP owned approximately 0.31% of Semtech as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake 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 worth $108,956,000 after buying an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after acquiring an additional 1,932,116 shares during the period. Driehaus Capital Management LLC purchased a new position in Semtech in the second quarter worth $43,395,000. Charles Schwab Investment Management Inc. lifted its holdings in Semtech by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after acquiring an additional 100,410 shares during the period. Finally, Clearline Capital LP boosted its position in shares of Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after purchasing an additional 529,194 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Susquehanna increased their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Benchmark upped their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on shares of Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Northland Securities upped their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC raised their price objective on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and an average price target of $68.70.

Semtech Stock Up 0.9 %

SMTC opened at $65.15 on Monday. The firm has a market cap of $4.93 billion, a P/E ratio of -4.99 and a beta of 1.65. The business’s fifty day simple moving average is $51.48 and its 200 day simple moving average is $41.41. Semtech Co. has a 52 week low of $18.16 and a 52 week high of $70.27.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. As a group, equities analysts expect that Semtech Co. will post -0.01 EPS for the current fiscal year.

Semtech Company 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.