California Public Employees Retirement System Buys 8,872 Shares of Semtech Co. (SMTC)

California Public Employees Retirement System raised its stake in shares of Semtech Co. (NASDAQ:SMTC) by 6.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 147,572 shares of the semiconductor company’s stock after purchasing an additional 8,872 shares during the period. California Public Employees Retirement System’s holdings in Semtech were worth $5,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC boosted its position in shares of Semtech by 15.5% in the 2nd quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after purchasing an additional 1,124,083 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Semtech by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock worth $217,384,000 after purchasing an additional 75,993 shares in the last quarter. State Street Corp boosted its position in shares of Semtech by 4.8% in the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock worth $68,013,000 after purchasing an additional 86,399 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Semtech by 29.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock worth $48,338,000 after purchasing an additional 309,928 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Semtech by 37.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,130,911 shares of the semiconductor company’s stock worth $42,466,000 after purchasing an additional 310,698 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on SMTC. Needham & Company LLC began coverage on Semtech in a research report on Monday, December 11th. They issued a “buy” rating and a $42.00 price objective for the company. B. Riley restated a “buy” rating and issued a $46.00 target price (down previously from $48.00) on shares of Semtech in a research note on Monday, November 27th. Roth Capital assumed coverage on Semtech in a research note on Friday. They issued a “buy” rating and a $39.00 target price for the company. Zacks Investment Research lowered Semtech from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, Oppenheimer restated a “buy” rating and issued a $42.00 target price on shares of Semtech in a research note on Sunday, November 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.90.

In other Semtech news, EVP Gary Beauchamp sold 21,666 shares of Semtech stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $39.84, for a total transaction of $863,173.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Asaf Silberstein sold 1,957 shares of Semtech stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $39.58, for a total value of $77,458.06. The disclosure for this sale can be found here. Insiders have sold a total of 59,007 shares of company stock valued at $2,226,517 in the last quarter. Company insiders own 2.10% of the company’s stock.

Semtech Co. (SMTC) opened at $35.60 on Friday. The stock has a market capitalization of $2,360.00, a price-to-earnings ratio of 52.35, a P/E/G ratio of 5.91 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20. Semtech Co. has a 52 week low of $31.05 and a 52 week high of $41.95.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. analysts forecast that Semtech Co. will post 1.21 earnings per share for the current fiscal year.

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Semtech Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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