California State Teachers Retirement System Buys 16,860 Shares of Semtech Co. (NASDAQ:SMTC)

California State Teachers Retirement System lifted its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,028 shares of the semiconductor company's stock after purchasing an additional 16,860 shares during the period. California State Teachers Retirement System owned 0.10% of Semtech worth $4,826,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of Semtech during the fourth quarter worth about $31,000. Dunhill Financial LLC purchased a new stake in Semtech in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its holdings in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after buying an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Semtech in the fourth quarter worth about $52,000. Finally, AlphaQuest LLC lifted its holdings in Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after buying an additional 772 shares during the period.

Semtech Stock Performance

Shares of SMTC traded up $0.27 on Friday, hitting $37.85. 1,521,283 shares of the stock traded hands, compared to its average volume of 2,164,974. The company has a market capitalization of $3.28 billion, a PE ratio of -2.90, a P/E/G ratio of 2.12 and a beta of 1.88. The business has a 50 day simple moving average of $33.07 and a 200 day simple moving average of $46.69. Semtech Co. has a one year low of $24.05 and a one year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. Semtech's revenue was up 30.1% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. On average, equities analysts expect that Semtech Co. will post -0.02 earnings per share for the current year.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares of the company's stock, valued at approximately $508,368.51. The trade was a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SMTC shares. Robert W. Baird lowered their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Needham & Company LLC restated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Stifel Nicolaus raised their price objective on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Benchmark restated a "buy" rating and issued a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Finally, Craig Hallum lowered their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Semtech has an average rating of "Moderate Buy" and a consensus price target of $58.58.

About Semtech

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.