Olympiad Research LP Acquires New Stake in Semtech Co. (NASDAQ:SMTC)

Olympiad Research LP acquired a new stake in Semtech Co. (NASDAQ:SMTC) during the third quarter, according to its most recent filing with the SEC. The firm acquired 9,167 shares of the semiconductor company’s stock, valued at approximately $419,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares during the last quarter. Seven Eight Capital LP boosted its position in shares of Semtech by 259.4% during the 1st quarter. Seven Eight Capital LP now owns 51,573 shares of the semiconductor company’s stock worth $1,418,000 after purchasing an additional 37,224 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Semtech during the 1st quarter worth $610,000. Janney Montgomery Scott LLC purchased a new stake in shares of Semtech during the 1st quarter worth $1,189,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Semtech in the 2nd quarter worth about $13,239,000.

Semtech Price Performance

NASDAQ SMTC opened at $48.31 on Thursday. Semtech Co. has a 12 month low of $13.65 and a 12 month high of $49.85. The company has a 50-day moving average of $43.79 and a 200-day moving average of $37.83. The company has a market cap of $3.63 billion, a P/E ratio of -3.52 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business 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 business earned ($0.06) EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Semtech Co. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SMTC. B. Riley boosted their price objective on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Benchmark reissued a “buy” rating and issued a $56.00 target price on shares of Semtech in a research note on Monday, October 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.