Harbor Capital Advisors Inc. Has $1.94 Million Position in Semtech Co. (NASDAQ:SMTC)

Harbor Capital Advisors Inc. increased its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 135.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 42,560 shares of the semiconductor company’s stock after purchasing an additional 24,517 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.06% of Semtech worth $1,943,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Semtech by 1.6% during the first 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 during the period. Millennium Management LLC lifted its stake in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN grew its position in Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after buying an additional 1,932,116 shares in the last quarter. Kodai Capital Management LP raised its holdings in Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after acquiring an additional 54,267 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Semtech in the 2nd quarter worth approximately $43,395,000.

Analyst Ratings Changes

SMTC has been the subject of a number of recent research reports. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Stifel Nicolaus upped their price target on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research 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. Roth Mkm reiterated a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Finally, B. Riley boosted their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report 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, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Trading Down 1.4 %

Shares of NASDAQ SMTC opened at $43.92 on Tuesday. Semtech Co. has a 1-year low of $13.65 and a 1-year high of $49.53. The company has a 50-day moving average of $43.36 and a two-hundred day moving average of $37.56. The company has a market cap of $3.30 billion, a PE ratio of -3.24 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, equities research analysts forecast that Semtech Co. will post -0.07 earnings per share for the current year.

About Semtech

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.