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

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

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after buying an additional 131,133 shares during the period. Millennium Management LLC raised its stake 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 in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of 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 valued at $74,550,000 after acquiring an additional 1,932,116 shares during the period. Kodai Capital Management LP boosted its stake in shares of Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after purchasing an additional 54,267 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Semtech in the 2nd quarter worth about $43,395,000.

Semtech Stock Up 3.9 %

Semtech stock opened at $45.84 on Tuesday. The business’s 50-day simple moving average is $44.84 and its 200 day simple moving average is $38.58. The stock 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 12-month low of $15.05 and a 12-month high of $53.22.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. B. Riley boosted their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Benchmark restated a “buy” rating and set a $56.00 price target on shares of Semtech in a research report on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Stifel Nicolaus boosted their price objective on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $52.60.

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.