Semtech Corporation (NASDAQ:SMTC) Holdings Boosted by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 17.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,533 shares of the semiconductor company's stock after buying an additional 6,194 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Semtech were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new position in Semtech in the 1st quarter worth about $2,528,000. Archer Investment Corp purchased a new position in Semtech in the first quarter valued at $64,000. Edgestream Partners L.P. lifted its holdings in Semtech by 496.0% during the 1st quarter. Edgestream Partners L.P. now owns 65,110 shares of the semiconductor company's stock worth $2,240,000 after buying an additional 54,185 shares during the last quarter. CWM LLC increased its position in Semtech by 23.3% in the 1st quarter. CWM LLC now owns 3,751 shares of the semiconductor company's stock valued at $129,000 after acquiring an additional 709 shares during the period. Finally, Moody Aldrich Partners LLC increased its position in Semtech by 75.6% in the 1st quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company's stock valued at $3,402,000 after acquiring an additional 42,587 shares during the period.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several recent analyst reports. UBS Group dropped their target price on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Stifel Nicolaus upped their target price on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Needham & Company LLC restated a "buy" rating and set a $54.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Benchmark restated a "buy" rating and set a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Finally, Morgan Stanley set a $43.00 target price on Semtech in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.58.

Semtech Stock Up 1.0%

Shares of NASDAQ SMTC traded up $0.54 during midday trading on Friday, reaching $53.07. 2,107,098 shares of the company's stock were exchanged, compared to its average volume of 1,985,825. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $79.52. 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 has a market capitalization of $4.60 billion, a PE ratio of -25.76 and a beta of 1.92. The business's fifty day moving average price is $43.33 and its two-hundred day moving average price is $42.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The business had revenue of $251.10 million for the quarter, compared to analysts' expectations of $249.79 million. During the same quarter last year, the company posted $0.06 earnings per share. The company's quarterly revenue was up 21.8% compared to the same quarter last year. Analysts forecast that Semtech Corporation will post -0.02 EPS for the current year.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total value of $85,960.00. Following the transaction, the chief operating officer owned 105,996 shares of the company's stock, valued at $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Lin sold 999 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction 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. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

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.