Royce & Associates LP Has $3.81 Million Holdings in Semtech Co. (NASDAQ:SMTC)

Royce & Associates LP trimmed its position in shares of Semtech Co. (NASDAQ:SMTC) by 16.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,500 shares of the semiconductor company’s stock after selling 16,000 shares during the quarter. Royce & Associates LP owned approximately 0.11% of Semtech worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in 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 acquiring an additional 131,133 shares in the last quarter. Millennium Management LLC boosted its holdings in Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Semtech by 343.3% during the second 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 holdings in Semtech by 2.7% during the first 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 position in Semtech during the second quarter valued at about $43,395,000.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating and set a $56.00 price objective on shares of Semtech in a report on Monday, October 7th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. 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 research note on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Finally, Roth Mkm reissued a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.60.

Semtech Stock Performance

NASDAQ:SMTC opened at $45.84 on Tuesday. The firm’s 50-day moving average is $44.84 and its 200-day moving average is $38.58. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -3.38 and a beta of 1.54. Semtech Co. has a 52-week low of $15.05 and a 52-week high of $53.22.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating 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 firm had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts predict that Semtech Co. will post -0.07 EPS 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.