Oppenheimer Asset Management Inc. Purchases 3,222 Shares of Semtech Co. (NASDAQ:SMTC)

Oppenheimer Asset Management Inc. raised its position in Semtech Co. (NASDAQ:SMTC) by 27.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,855 shares of the semiconductor company’s stock after purchasing an additional 3,222 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Semtech were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Millennium Management LLC grew its stake in Semtech by 26.6% in 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 increased its holdings in shares of Semtech by 343.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after buying an additional 1,932,116 shares during the last quarter. Kodai Capital Management LP raised its position in shares of Semtech by 2.7% during the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after buying an additional 54,267 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Semtech during the 2nd quarter worth $43,395,000.

Semtech Trading Up 3.1 %

SMTC stock opened at $47.24 on Wednesday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -3.49 and a beta of 1.54. The firm’s 50-day moving average price is $45.00 and its two-hundred day moving average price is $38.64. Semtech Co. has a 12-month low of $15.05 and a 12-month high of $53.22.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on SMTC shares. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. B. Riley increased their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.60.

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.