Should You Hold Semtech Corporation (SMTC)?

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Semtech Corporation (NASDAQ:SMTC) in its Q3 2022 investor letter. Based in Camarillo, California, Semtech Corporation (NASDAQ:SMTC) is a semiconductor products manufacturer. On December 30, 2022, Semtech Corporation (NASDAQ:SMTC) stock closed at $28.69 per share. One-month return of Semtech Corporation (NASDAQ:SMTC) was -2.28%, and its shares lost 67.74% of their value over the last 52 weeks. Semtech Corporation (NASDAQ:SMTC) has a market capitalization of $1.832 billion.

Carillon Tower Advisers made the following comment about Semtech Corporation (NASDAQ:SMTC) in its Q3 2022 investor letter:

Semtech Corporation (NASDAQ:SMTC) makes mixed-signal and analog semiconductors used across end markets that include computing, communications, and the “Internet of Things” (IoT). The stock sold off significantly after Semtech announced that it plans to acquire an IoT solutions provider in a deal that is expected to add significant scale benefits to the company but also to create a meaningful drag on its margin profile.”

Semiconductor

Photo by Yogesh Phuyal on Unsplash

Semtech Corporation (NASDAQ:SMTC) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 28 hedge fund portfolios held Semtech Corporation (NASDAQ:SMTC) at the end of the third quarter, which was 31 in the previous quarter.

We discussed Semtech Corporation (NASDAQ:SMTC) in another article and shared list of tech stocks recently downgraded by analysts. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.