Hanseatic Management Services Inc. Purchases 447 Shares of Semtech Co. (NASDAQ:SMTC)

Hanseatic Management Services Inc. boosted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,406 shares of the semiconductor company’s stock after acquiring 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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SMTC. Fidelis Capital Partners LLC bought a new position in shares of Semtech during the 1st quarter valued at about $27,000. Ridgewood Investments LLC acquired a new stake in Semtech during the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board bought a new position in Semtech in the second quarter valued at approximately $60,000. NBC Securities Inc. boosted its holdings in shares of 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 buying an additional 739 shares during the period. Finally, Quarry LP bought a new stake in shares of Semtech during the second quarter worth $63,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SMTC. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Stifel Nicolaus upped their price objective on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. B. Riley increased their price objective on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Finally, Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Semtech Price Performance

Shares of SMTC stock opened at $47.74 on Thursday. The stock has a market cap of $3.59 billion, a P/E ratio of -3.52 and a beta of 1.54. The company has a fifty day moving average price of $43.79 and a two-hundred day moving average price of $37.83. Semtech Co. has a one year low of $13.65 and a one year high of $49.85.

Semtech (NASDAQ:SMTC) last announced its quarterly 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 the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. As a group, equities research analysts anticipate that Semtech Co. will post -0.07 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.