Louisiana State Employees Retirement System Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Louisiana State Employees Retirement System bought a new position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 32,100 shares of the semiconductor company's stock, valued at approximately $703,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Semtech during the fourth quarter valued at approximately $164,000. Whittier Trust Co. acquired a new position in shares of Semtech during the 3rd quarter valued at $207,000. Legato Capital Management LLC purchased a new stake in Semtech during the 4th quarter worth $201,000. Channel Wealth LLC acquired a new stake in Semtech in the 4th quarter valued at $249,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Semtech by 30.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,772 shares of the semiconductor company's stock valued at $380,000 after purchasing an additional 3,437 shares during the period.

Semtech Stock Up 3.1 %

NASDAQ SMTC traded up $1.07 during trading hours on Friday, reaching $35.77. 1,651,387 shares of the company traded hands, compared to its average volume of 3,909,571. The company has a 50 day moving average of $26.65 and a two-hundred day moving average of $21.57. The stock has a market capitalization of $2.31 billion, a PE ratio of -2.10 and a beta of 1.85. Semtech Co. has a 12 month low of $13.13 and a 12 month high of $35.93. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $192.95 million for the quarter, compared to the consensus estimate of $191.24 million. Semtech had a negative return on equity of 9.41% and a negative net margin of 125.70%. As a group, equities analysts expect that Semtech Co. will post -0.09 earnings per share for the current year.

Insider Transactions at Semtech

In other news, CFO Mark Lin purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were acquired at an average cost of $33.23 per share, with a total value of $33,230.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $33,230. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SMTC. Northland Securities upped their target price on Semtech from $30.00 to $36.50 and gave the stock an "outperform" rating in a research report on Monday, April 1st. Craig Hallum upped their price target on Semtech from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Piper Sandler reiterated an "overweight" rating and set a $40.00 price objective (up previously from $30.00) on shares of Semtech in a research note on Monday, April 1st. Oppenheimer restated a "market perform" rating on shares of Semtech in a research note on Monday, April 1st. Finally, Susquehanna raised their price target on shares of Semtech from $30.00 to $45.00 and gave the company a "positive" rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Semtech currently has a consensus rating of "Moderate Buy" and an average target price of $39.85.

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.