Olympiad Research LP Makes New $419,000 Investment in Semtech Co. (NASDAQ:SMTC)

Olympiad Research LP acquired a new position in shares of Semtech Co. (NASDAQ:SMTC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,167 shares of the semiconductor company’s stock, valued at approximately $419,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Semtech by 1.6% during 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 during the period. Millennium Management LLC raised its position in Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after acquiring an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN raised 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 acquiring an additional 1,932,116 shares during the period. Kodai Capital Management LP raised its position 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 worth $56,075,000 after acquiring an additional 54,267 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in Semtech during the second quarter worth $43,395,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Roth Mkm reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus increased their target price on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Trading Up 1.2 %

Semtech stock opened at $48.31 on Thursday. Semtech Co. has a 12-month low of $13.65 and a 12-month high of $49.85. The stock has a market cap of $3.63 billion, a P/E ratio of -3.52 and a beta of 1.54. The company has a 50-day moving average price of $43.79 and a 200 day moving average price of $37.83.

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