68,683 Shares in Semtech Co. (NASDAQ:SMTC) Bought by PDT Partners LLC

PDT Partners LLC acquired a new position in shares of Semtech Co. (NASDAQ:SMTC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 68,683 shares of the semiconductor company’s stock, valued at approximately $3,136,000. PDT Partners LLC owned about 0.09% of Semtech at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its stake in Semtech by 40.0% during the third quarter. Fred Alger Management LLC now owns 670,173 shares of the semiconductor company’s stock worth $30,600,000 after purchasing an additional 191,347 shares during the last quarter. Verition Fund Management LLC lifted its stake in Semtech by 617.2% during the third quarter. Verition Fund Management LLC now owns 124,800 shares of the semiconductor company’s stock worth $5,698,000 after purchasing an additional 107,400 shares during the last quarter. Captrust Financial Advisors bought a new position in Semtech during the third quarter worth $333,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Semtech by 198.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock worth $18,940,000 after purchasing an additional 275,717 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Semtech by 12.0% during the third quarter. Public Sector Pension Investment Board now owns 159,160 shares of the semiconductor company’s stock worth $7,267,000 after purchasing an additional 17,100 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SMTC shares. Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Northland Securities raised their target price on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price (up from $50.00) on shares of Semtech in a research note on Tuesday. Finally, B. Riley raised their target price on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and ten have issued 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 $67.70.

Semtech Trading Down 0.2 %

Shares of NASDAQ:SMTC opened at $64.04 on Friday. The company has a 50 day moving average of $47.00 and a 200-day moving average of $39.47. The firm has a market cap of $4.82 billion, a P/E ratio of -4.91 and a beta of 1.54. Semtech Co. has a twelve month low of $15.63 and a twelve month high of $66.64.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. 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 posted $0.02 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Semtech Co. will post -0.07 EPS for the current year.

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.