12,497 Shares in Semtech Corporation (NASDAQ:SMTC) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,497 shares of the semiconductor company's stock, valued at approximately $430,000.

A number of other institutional investors have also recently bought and sold shares of the company. Whale Rock Capital Management LLC raised its holdings in Semtech by 364.2% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after buying an additional 2,562,602 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after purchasing an additional 1,911,890 shares during the period. Vanguard Group Inc. increased its stake in shares of Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock worth $713,906,000 after purchasing an additional 1,326,226 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Semtech in the fourth quarter worth about $51,315,000. Finally, Fred Alger Management LLC increased its stake in shares of Semtech by 122.6% in the fourth quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company's stock worth $92,271,000 after purchasing an additional 821,671 shares during the period.

Semtech Price Performance

NASDAQ SMTC traded up $2.75 during trading on Friday, reaching $53.62. 2,569,691 shares of the company traded hands, compared to its average volume of 2,167,145. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.81 and a current ratio of 2.53. The stock's 50 day moving average price is $42.05 and its two-hundred day moving average price is $42.94. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -26.03 and a beta of 1.92. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. The company had revenue of $251.10 million for the quarter, compared to the consensus estimate of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The company's quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. As a group, analysts anticipate that Semtech Corporation will post -0.02 EPS for the current year.

Insider Activity at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the transaction, the chief operating officer directly owned 105,996 shares of the company's stock, valued at $4,555,708.08. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the transaction, the chief financial officer directly owned 17,211 shares in the company, valued at $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

SMTC has been the topic of a number of recent analyst reports. Benchmark reiterated a "buy" rating and issued a $68.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. UBS Group dropped their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus lifted their price objective on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley set a $43.00 price target on Semtech in a research note on Wednesday, May 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of Semtech in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.58.

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.