Teachers Retirement System of The State of Kentucky Purchases 12,975 Shares of Semtech Co. (NASDAQ:SMTC)

Teachers Retirement System of The State of Kentucky raised its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 58.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,339 shares of the semiconductor company's stock after purchasing an additional 12,975 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Semtech were worth $2,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SMTC. Moody National Bank Trust Division boosted its position in Semtech by 148.6% during the 4th quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company's stock valued at $1,272,000 after acquiring an additional 12,296 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Semtech by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company's stock worth $25,396,000 after purchasing an additional 56,108 shares during the period. Rhumbline Advisers raised its position in shares of Semtech by 6.1% during the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company's stock worth $12,702,000 after acquiring an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Semtech in the 4th quarter valued at $2,680,000. Finally, Stephens Inc. AR purchased a new position in shares of Semtech during the fourth quarter worth about $889,000.

Semtech Trading Up 5.2 %

Shares of SMTC stock traded up $1.62 during trading hours on Thursday, hitting $32.87. 1,048,131 shares of the company were exchanged, compared to its average volume of 2,776,940. The business has a 50 day moving average of $32.77 and a two-hundred day moving average of $48.37. The company has a market capitalization of $2.85 billion, a PE ratio of -2.52, a PEG ratio of 2.12 and a beta of 1.85. Semtech Co. has a 52 week low of $24.05 and a 52 week 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, topping analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. Semtech's quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) EPS. On average, research analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the business's 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 sale, the chief financial officer now owns 13,481 shares of the company's stock, valued at $508,368.51. The trade was a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SMTC shares. Stifel Nicolaus lowered their price objective on shares of Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. UBS Group dropped their price target on Semtech from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Benchmark dropped their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, Piper Sandler restated an "overweight" rating and set a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Semtech has a consensus rating of "Moderate Buy" and an average target price of $57.33.

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.