Assenagon Asset Management S.A. Has $19.41 Million Position in Semtech Co. (NASDAQ:SMTC)

Assenagon Asset Management S.A. lessened its position in Semtech Co. (NASDAQ:SMTC) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 425,121 shares of the semiconductor company’s stock after selling 17,940 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Semtech were worth $19,411,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SMTC. Vanguard Group Inc. grew its stake in shares of Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after acquiring an additional 131,133 shares in the last quarter. Seven Eight Capital LP grew its position in Semtech by 259.4% in the first quarter. Seven Eight Capital LP now owns 51,573 shares of the semiconductor company’s stock valued at $1,418,000 after purchasing an additional 37,224 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Semtech in the 1st quarter valued at $610,000. Janney Montgomery Scott LLC bought a new stake in Semtech during the 1st quarter worth about $1,189,000. Finally, SG Capital Management LLC acquired a new position in shares of Semtech during the 1st quarter worth about $7,084,000.

Semtech Stock Up 3.1 %

Shares of NASDAQ:SMTC opened at $45.47 on Friday. Semtech Co. has a 12-month low of $13.13 and a 12-month high of $49.53. The business has a 50 day moving average of $42.42 and a 200-day moving average of $37.09. The stock has a market cap of $2.94 billion, a PE ratio of -2.69 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating 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 firm had revenue of $215.40 million for the quarter, compared to analyst estimates of $212.30 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities research analysts expect that Semtech Co. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

SMTC has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Finally, 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 note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.