Semtech Co. (NASDAQ:SMTC) Holdings Raised by Seven Eight Capital LP

Seven Eight Capital LP lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 259.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,573 shares of the semiconductor company’s stock after purchasing an additional 37,224 shares during the quarter. Seven Eight Capital LP’s holdings in Semtech were worth $1,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Semtech by 83.9% during the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 773 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Semtech by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 56,053 shares of the semiconductor company’s stock valued at $1,541,000 after purchasing an additional 875 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Semtech by 7.4% during the first quarter. ProShare Advisors LLC now owns 12,902 shares of the semiconductor company’s stock valued at $355,000 after purchasing an additional 893 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Semtech during the first quarter valued at about $27,000. Finally, Versant Capital Management Inc raised its stake in shares of Semtech by 205.0% during the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,259 shares in the last quarter.

Semtech Trading Down 3.9 %

SMTC traded down $1.30 during trading on Wednesday, reaching $32.11. The company had a trading volume of 959,828 shares, compared to its average volume of 1,937,342. The firm’s 50-day simple moving average is $34.51 and its 200 day simple moving average is $29.11. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -1.98 and a beta of 1.55. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $46.86. 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 (NASDAQ:SMTC) last released its earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The company had revenue of $206.11 million for the quarter, compared to analysts’ expectations of $200.16 million. Equities research analysts anticipate that Semtech Co. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of research analyst reports. Craig Hallum lifted their target price on Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Monday, July 15th. B. Riley lifted their target price on Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus lifted their target price on Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.90.

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.