Atom Investors LP Purchases New Shares in Semtech Co. (NASDAQ:SMTC)

Atom Investors LP purchased a new position in Semtech Co. (NASDAQ:SMTC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,874 shares of the semiconductor company’s stock, valued at approximately $2,186,000. Atom Investors LP owned about 0.06% of Semtech as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SMTC. Harbor Capital Advisors Inc. lifted its holdings in shares of Semtech by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,043 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 3,370 shares during the last quarter. CWM LLC grew its stake in shares of Semtech by 134.6% during 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 during the last quarter. Friedenthal Financial purchased a new stake in shares of Semtech in the second quarter worth approximately $748,000. ORG Partners LLC lifted its stake in shares of Semtech by 1,441.5% during the 2nd quarter. ORG Partners LLC now owns 7,276 shares of the semiconductor company’s stock worth $229,000 after acquiring an additional 6,804 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Semtech during the 2nd quarter valued at $13,239,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SMTC shares. Susquehanna increased their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. B. Riley raised their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Benchmark upped their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Northland Securities lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.70.

Semtech Price Performance

Shares of SMTC stock opened at $62.68 on Tuesday. Semtech Co. has a 52-week low of $16.19 and a 52-week high of $66.64. The company’s 50 day moving average is $47.37 and its 200 day moving average is $39.65.

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