Bayesian Capital Management LP Has $575,000 Stock Holdings in Semtech Co. (NASDAQ:SMTC)

Bayesian Capital Management LP cut its stake in Semtech Co. (NASDAQ:SMTC) by 24.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,899 shares of the semiconductor company’s stock after selling 6,700 shares during the period. Bayesian Capital Management LP’s holdings in Semtech were worth $575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMTC. GAMMA Investing LLC raised its holdings in shares of Semtech by 83.9% during the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after buying an additional 773 shares in the last quarter. Texas Permanent School Fund Corp grew its position in Semtech by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,053 shares of the semiconductor company’s stock worth $1,541,000 after acquiring an additional 875 shares during the last quarter. ProShare Advisors LLC grew its position in Semtech by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 12,902 shares of the semiconductor company’s stock worth $355,000 after acquiring an additional 893 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Semtech during the 1st quarter worth $27,000. Finally, Versant Capital Management Inc grew its position in Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 1,259 shares during the last quarter.

Semtech Trading Down 4.7 %

Shares of Semtech stock traded down $1.49 on Tuesday, hitting $30.16. 1,538,133 shares of the company’s stock traded hands, compared to its average volume of 1,943,064. Semtech Co. has a one year low of $13.13 and a one year high of $46.86. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.40 and a quick ratio of 1.74. The company has a fifty day moving average of $33.78 and a two-hundred day moving average of $29.40. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -1.79 and a beta of 1.55.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The business had revenue of $206.11 million for the quarter, compared to the consensus estimate of $200.16 million. As a group, sell-side analysts expect that Semtech Co. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SMTC shares. Northland Securities boosted their price objective on Semtech from $36.50 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Piper Sandler reiterated an “overweight” rating and issued a $60.00 price target (up previously from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. Craig Hallum upped their price target on Semtech from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. B. Riley upped their price target on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Robert W. Baird upped their price target on Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

About Semtech

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.