Quantbot Technologies LP decreased its stake in Semtech Co. (NASDAQ:SMTC) by 64.0% during the 1st quarter, according to a recent disclosure with the Securities and Exchange Commission. The institutional investor sold 82,049 shares, leaving them with 46,120 shares of the semiconductor company’s stock valued at $1,268,000.
Other hedge funds and institutional investors also made changes to their positions in Semtech. Wellington Management Group LLP increased their holdings by 5.4% during the third quarter, now owning 595,101 shares worth $15,324,000. Additionally, several other firms acquired new stakes or raised their existing positions in Semtech.
Several research analyst reports have been released on SMTC. Various firms have raised their price targets and ratings on the stock, with a consensus rating of “Moderate Buy” and a target price of $48.90.
Semtech opened at $35.86 on Friday, with a 1 year low of $13.13 and a high of $46.86. The company has a current ratio of 2.40 and a quick ratio of 1.74. Its market cap is $2.32 billion with a PE ratio of -2.12.
Semtech recently reported earnings, meeting the consensus estimate of ($0.17) earnings per share. The company had a negative net margin and return on equity for the quarter. Analysts predict Semtech will post -0.03 EPS for the current year.
Semtech Corporation specializes in analog and mixed-signal semiconductor and advanced algorithms. They provide products for optical data communications, video transport, data centers, and wireless applications.
For more news and ratings on Semtech, sign up for MarketBeat.com’s free daily email newsletter.