Semtech Co. (NASDAQ:SMTC) Shares Sold by Clearline Capital LP

Clearline Capital LP cut its holdings in Semtech Co. (NASDAQ:SMTC) by 50.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 442,916 shares of the semiconductor company’s stock after selling 456,105 shares during the quarter. Semtech makes up about 0.9% of Clearline Capital LP’s holdings, making the stock its 17th largest holding. Clearline Capital LP’s holdings in Semtech were worth $20,224,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Huntington National Bank raised its position in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the last quarter. NBC Securities Inc. increased its stake in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 739 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Semtech in the second quarter worth $44,000. International Assets Investment Management LLC lifted its stake in shares of Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the second quarter valued at $60,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SMTC shares. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. B. Riley increased their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum upped their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Price Performance

Semtech stock opened at $64.04 on Monday. Semtech Co. has a 12 month low of $15.63 and a 12 month high of $66.64. The stock has a market capitalization of $4.82 billion, a PE ratio of -4.91 and a beta of 1.54. The business has a 50 day simple moving average of $47.37 and a 200-day simple moving average of $39.65.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter last year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Semtech Co. will post -0.02 EPS for the current fiscal 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.