Hanseatic Management Services Inc. Has $658,000 Position in Semtech Co. (NASDAQ:SMTC)

Hanseatic Management Services Inc. raised its position in Semtech Co. (NASDAQ:SMTC) by 3.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,406 shares of the semiconductor company’s stock after purchasing an additional 447 shares during the period. Hanseatic Management Services Inc.’s holdings in Semtech were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in Semtech by 10.1% during the third quarter. Amalgamated Bank now owns 21,694 shares of the semiconductor company’s stock worth $991,000 after acquiring an additional 1,995 shares during the period. Van ECK Associates Corp bought a new position in shares of Semtech during the third quarter worth approximately $125,000. Harbor Capital Advisors Inc. raised its position in shares of Semtech by 135.9% in the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after buying an additional 24,517 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Semtech by 13.0% in the third quarter. State of Alaska Department of Revenue now owns 42,817 shares of the semiconductor company’s stock valued at $1,955,000 after buying an additional 4,910 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Semtech by 11.7% during the third quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the semiconductor company’s stock worth $1,657,000 after buying an additional 3,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMTC. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Benchmark reiterated a “buy” rating and set a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and an average price target of $52.60.

Semtech Trading Up 1.5 %

NASDAQ:SMTC opened at $47.74 on Thursday. The stock’s 50-day moving average is $43.79 and its 200-day moving average is $37.83. Semtech Co. has a 1-year low of $13.65 and a 1-year high of $49.85. The stock has a market cap of $3.59 billion, a P/E ratio of -3.52 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $215.40 million for the quarter, compared to analyst estimates of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. As a group, equities 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.