Y Intercept Hong Kong Ltd Acquires Shares of 16,721 Semtech Co. (NASDAQ:SMTC)

Y Intercept Hong Kong Ltd bought a new position in Semtech Co. (NASDAQ:SMTC) in the 3rd quarter, Holdings Channel.com reports. The firm bought 16,721 shares of the semiconductor company’s stock, valued at approximately $763,000.

A number of other large investors have also modified their holdings of the stock. Huntington National Bank increased its position in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Semtech during the second quarter worth approximately $44,000. Canada Pension Plan Investment Board bought a new stake in shares of Semtech in the second quarter worth $60,000. NBC Securities Inc. raised its holdings in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares in the last quarter. Finally, Quarry LP acquired a new stake in Semtech in the second quarter valued at $63,000.

Semtech Stock Performance

Shares of SMTC opened at $65.15 on Friday. Semtech Co. has a one year low of $18.16 and a one year high of $70.27. The stock’s fifty day moving average is $51.48 and its 200-day moving average is $41.40. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of -4.99 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. Semtech’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Analysts forecast that Semtech Co. will post -0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SMTC shares. Northland Securities upped their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday. Stifel Nicolaus upped their price target on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC lifted their price objective on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. 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 report on Tuesday, November 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 price target (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.70.

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.