Teacher Retirement System of Texas Makes New $430,000 Investment in Semtech Corporation (NASDAQ:SMTC)

Teacher Retirement System of Texas acquired a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,497 shares of the semiconductor company's stock, valued at approximately $430,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SMTC. Dunhill Financial LLC acquired a new position in Semtech during the 4th quarter worth $31,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Semtech during the 4th quarter worth $52,000. NBC Securities Inc. grew its stake in Semtech by 104,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 1,047 shares in the last quarter. AlphaQuest LLC grew its stake in Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 772 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Semtech during the 4th quarter worth $91,000.

Analyst Ratings Changes

Several research analysts recently commented on the company. Needham & Company LLC reissued a "buy" rating and set a $54.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Stifel Nicolaus upped their price objective on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley set a $43.00 price objective on Semtech in a research report on Wednesday, May 28th. Benchmark reaffirmed a "buy" rating and set a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Finally, UBS Group lowered their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and a consensus price target of $59.58.

Semtech Stock Performance

Shares of NASDAQ SMTC traded down $0.56 during trading hours on Monday, reaching $53.06. The stock had a trading volume of 1,225,492 shares, compared to its average volume of 2,166,909. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -25.76 and a beta of 1.92. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The firm has a 50-day moving average of $42.05 and a 200-day moving average of $42.68.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. The firm had revenue of $251.10 million during 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 firm's revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Equities research analysts predict that Semtech Corporation will post -0.02 earnings per share for the current year.

Insider Activity at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the transaction, the chief operating officer directly owned 105,996 shares of the company's stock, valued at approximately $4,555,708.08. This represents a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Lin sold 999 shares of the company'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 sale, the chief financial officer owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Semtech 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.