California State Teachers Retirement System Boosts Stake in Semtech Corporation $SMTC

California State Teachers Retirement System lifted its stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,797 shares of the semiconductor company's stock after buying an additional 4,979 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Semtech worth $17,446,944 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMTC. BlackRock Inc. bought a new stake in shares of Semtech in the 2nd quarter valued at approximately $1,577,947,000. ABS Investment Management LLC bought a new position in shares of Semtech in the 2nd quarter valued at about $178,035,000. Andar Capital Management HK Ltd bought a new stake in Semtech in the 2nd quarter valued at approximately $162,000,000. Geode Capital Management LLC raised its holdings in Semtech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company's stock valued at $154,704,000 after acquiring an additional 6,715 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Semtech by 396.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company's stock worth $136,298,000 after acquiring an additional 672,447 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMTC. Weiss Ratings raised shares of Semtech from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, September 9th. Wall Street Zen upgraded shares of Semtech from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 29th. Zacks Research lowered shares of Semtech from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $200.00 price target on shares of Semtech in a report on Wednesday, August 26th. Finally, B. Riley Financial raised their price target on Semtech from $165.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Semtech presently has an average rating of "Moderate Buy" and a consensus price target of $204.71.

Insider Buying and Selling at Semtech

In other news, Director Julie Ruehl sold 1,500 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the completion of the sale, the director owned 7,140 shares of the company's stock, valued at $1,035,300. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Hou sold 2,000 shares of the firm's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the transaction, the chief executive officer directly owned 64,799 shares in the company, valued at approximately $8,618,267. This represents a 2.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 23,917 shares of company stock valued at $3,413,918. 0.44% of the stock is owned by corporate insiders.

Semtech Stock Performance

NASDAQ:SMTC traded up $2.72 on Tuesday, hitting $149.77. The company's stock had a trading volume of 1,073,474 shares, compared to its average volume of 2,745,650. Semtech Corporation has a one year low of $57.50 and a one year high of $177.35. The stock has a fifty day moving average of $134.02 and a two-hundred day moving average of $124.02. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.98 billion, a P/E ratio of 99.39 and a beta of 2.35.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The company's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts predict that Semtech Corporation will post 2.64 earnings per share for the current year.

About Semtech

Semtech Corporation NASDAQ: SMTC is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company's portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.

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