Semtech Co. (NASDAQ:SMTC) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. trimmed its position in Semtech Co. (NASDAQ:SMTC) by 70.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,200 shares of the semiconductor company’s stock after selling 277,700 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.16% of Semtech worth $5,397,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Semtech by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 18,043 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 3,370 shares in the last quarter. CWM LLC increased its holdings in shares of Semtech by 134.6% in the second quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 1,384 shares in the last quarter. Friedenthal Financial acquired a new stake in Semtech during the 2nd quarter valued at $748,000. ORG Partners LLC raised its stake in Semtech by 1,441.5% during the 2nd quarter. ORG Partners LLC now owns 7,276 shares of the semiconductor company’s stock valued at $229,000 after purchasing an additional 6,804 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Semtech during the 2nd quarter valued at $13,239,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SMTC shares. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price (up from $50.00) on shares of Semtech in a research note on Tuesday, November 26th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm boosted their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Northland Securities boosted their target price on shares of Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Craig Hallum upped their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $67.70.

Semtech Price Performance

Semtech stock opened at $69.10 on Thursday. Semtech Co. has a one year low of $16.19 and a one year high of $70.27. The company’s fifty day moving average price is $48.08 and its two-hundred day moving average price is $40.00.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. Sell-side analysts anticipate that Semtech Co. will post -0.02 EPS for the current year.

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.