Yousif Capital Management LLC Reduces Stake in Semtech Co.

Jun 22, 2023

Yousif Capital Management LLC decreased its stake in Semtech Co. by 10.9% in the first quarter. The institutional investor sold 4,390 shares of the semiconductor company’s stock, leaving them with 35,974 shares at the end of the quarter. The value of their holdings at that time was $868,000.

Other large investors also made changes to their stakes in Semtech Co. during this period. BlackRock Inc. increased its holdings by 3.7% and now owns 7,160,578 shares of the company’s stock. Vanguard Group Inc. increased its holdings by 2.4% and now owns 6,576,015 shares. JPMorgan Chase & Co. saw a 338.2% increase in holdings, bringing their total to 3,738,949 shares. State Street Corp increased holdings by 18.0% and now owns 2,972,853 shares. Finally, Morgan Stanley increased holdings by 59.3% and now owns 1,924,955 shares.

Semtech Co. opened on Friday at $27.48. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.14, and a quick ratio of 1.46. The 1 year low for the stock is $17.82, while the 1 year high is $56.28. The company has a market capitalization of $1.76 billion and a beta of 1.72. The 50-day moving average is $25.40 and the 200-day moving average is $26.35.

Semtech Co. recently reported its earnings for the quarter, showing earnings per share of $0.02, beating the consensus estimate of ($0.08) by $0.10. The company had a positive return on equity of 8.83% and a negative net margin of 0.77%. Quarterly revenue was $236.50 million, surpassing analyst estimates of $235.00 million. In the same quarter of the previous year, the company earned $0.67 EPS. Analysts predict that Semtech Co. will post -0.06 earnings per share for the current fiscal year.

A number of brokerages have commented on the stock. Northland Securities initiated coverage on Semtech with an “outperform” rating and a target price of $32.00. Susquehanna lowered their target price from $30.00 to $25.00. Craig Hallum initiated coverage with a “buy” rating. Stifel Nicolaus lowered their target price from $37.00 to $32.00 and also gave a “buy” rating to the stock. TheStreet upgraded Semtech from a “d+” rating to a “c-” rating. The consensus rating for the stock is “Hold” with an average price target of $37.10.

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. They provide signal integrity products, integrated circuits for data centers, wireless base station optical transceivers, and video products for broadcast applications.