Nisa Investment Advisors LLC Sells 241 Shares of Semtech Co. (NASDAQ:SMTC)

Nisa Investment Advisors LLC trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 3.4% during the third quarter, HoldingsChannel reports. The firm owned 6,918 shares of the semiconductor company’s stock after selling 241 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Semtech were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in Semtech in the first quarter worth about $27,000. Ridgewood Investments LLC bought a new stake in shares of Semtech in the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board bought a new stake in shares of Semtech in the 2nd quarter worth approximately $60,000. NBC Securities Inc. grew its holdings in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 739 shares during the period. Finally, Quarry LP purchased a new stake in Semtech in the second quarter worth $63,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. B. Riley increased 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. Roth Mkm reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Benchmark reiterated a “buy” rating and issued a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

Semtech Price Performance

SMTC opened at $47.04 on Wednesday. The firm has a market capitalization of $3.54 billion, a P/E ratio of -3.44 and a beta of 1.54. Semtech Co. has a one year low of $13.65 and a one year high of $49.53. The company has a fifty day moving average price of $43.50 and a 200-day moving average price of $37.64.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. On average, analysts expect that Semtech Co. will post -0.07 earnings per share for the current 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.