Victory Capital Management Inc. Has $37.63 Million Stake in Semtech Co. (NASDAQ:SMTC)

Victory Capital Management Inc. increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 130.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 824,198 shares of the semiconductor company’s stock after acquiring an additional 466,868 shares during the quarter. Victory Capital Management Inc. owned about 1.10% of Semtech worth $37,633,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SMTC. Arizona State Retirement System lifted its position in Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after acquiring an additional 407 shares during the last quarter. Hanseatic Management Services Inc. lifted its holdings in Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Semtech by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 461 shares during the period. Creative Planning grew its holdings in Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Semtech by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after buying an additional 700 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently commented on SMTC. B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Roth Mkm restated a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Benchmark reiterated a “buy” rating and issued a $56.00 price target on shares of Semtech in a research report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their price objective on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

Semtech Stock Down 6.8 %

Semtech stock opened at $44.10 on Friday. The stock has a market cap of $3.32 billion, a PE ratio of -3.25 and a beta of 1.54. Semtech Co. has a 12-month low of $15.05 and a 12-month high of $53.22. The business’s 50-day moving average price is $44.72 and its two-hundred day moving average price is $38.53.

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