Semtech Co. (NASDAQ:SMTC) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System raised its position in Semtech Co. (NASDAQ:SMTC) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,202 shares of the semiconductor company’s stock after purchasing an additional 2,981 shares during the period. New York State Teachers Retirement System owned about 0.11% of Semtech worth $5,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Semtech by 33.9% during the 3rd quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 818 shares during the period. Creative Planning grew its position in shares of Semtech by 20.1% during the third quarter. Creative Planning now owns 21,637 shares of the semiconductor company’s stock worth $988,000 after buying an additional 3,619 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,652 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Semtech by 11.7% in the third quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the semiconductor company’s stock worth $1,657,000 after purchasing an additional 3,800 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Semtech by 13.0% in the third quarter. State of Alaska Department of Revenue now owns 42,817 shares of the semiconductor company’s stock worth $1,955,000 after purchasing an additional 4,910 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SMTC shares. Stifel Nicolaus cut their target price on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. UBS Group started coverage on shares of Semtech in a report on Friday, January 17th. They issued a “buy” rating and a $85.00 price target for the company. Needham & Company LLC cut their price objective on Semtech from $74.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, February 10th. B. Riley boosted their price objective on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Craig Hallum upped their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.91.

Semtech Trading Up 2.2 %

SMTC opened at $38.71 on Friday. Semtech Co. has a 1-year low of $19.39 and a 1-year high of $79.52. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -2.97, a P/E/G ratio of 2.02 and a beta of 1.64. The business has a 50 day moving average of $60.86 and a 200-day moving average of $50.89.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts predict that Semtech Co. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the transaction, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares in the company, valued at approximately $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock worth $1,095,061 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Semtech Company 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.