Seven Eight Capital LP boosted its position in shares of Semtech Co. (NASDAQ:SMTC – Free Report) by 259.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,573 shares of the semiconductor company’s stock after acquiring an additional 37,224 shares during the period. Seven Eight Capital LP owned about 0.08% of Semtech worth $1,418,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMTC. Fidelis Capital Partners LLC purchased a new stake in shares of Semtech during the 1st quarter worth approximately $27,000. GAMMA Investing LLC lifted its position in shares of Semtech by 83.9% during the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after buying an additional 773 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,259 shares during the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of Semtech during the 4th quarter worth approximately $63,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Semtech by 67.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock worth $102,000 after buying an additional 1,871 shares during the last quarter.
Semtech Stock Performance
Semtech stock traded down $1.30 during trading hours on Wednesday, reaching $32.11. 959,828 shares of the stock were exchanged, compared to its average volume of 1,937,342. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.74 and a current ratio of 2.40. Semtech Co. has a 52-week low of $13.13 and a 52-week high of $46.86. The stock has a market cap of $2.08 billion, a P/E ratio of -1.98 and a beta of 1.55. The firm’s 50 day moving average is $34.51 and its 200 day moving average is $29.11.
Semtech (NASDAQ:SMTC – Get Free Report) last posted its quarterly earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. The business had revenue of $206.11 million for the quarter, compared to analysts’ expectations of $200.16 million. Analysts predict that Semtech Co. will post -0.03 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on SMTC shares. B. Riley boosted their price objective on shares of Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Northland Securities upped their price target on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Craig Hallum upped their price target on shares of Semtech from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Robert W. Baird upped their price target on shares of Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $48.90.
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.