State of New Jersey Common Pension Fund D Cuts Holdings in Semtech Co. (NASDAQ:SMTC)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,436 shares of the semiconductor company’s stock after selling 9,131 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Semtech were worth $2,748,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Semtech by 6.1% during the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock valued at $12,702,000 after purchasing an additional 11,878 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Semtech by 3.8% in the 4th quarter. New York State Teachers Retirement System now owns 82,202 shares of the semiconductor company’s stock worth $5,084,000 after buying an additional 2,981 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Semtech by 332.1% in the 4th quarter. Van ECK Associates Corp now owns 12,103 shares of the semiconductor company’s stock worth $749,000 after buying an additional 9,302 shares during the last quarter. Legato Capital Management LLC boosted its stake in shares of Semtech by 40.0% in the 4th quarter. Legato Capital Management LLC now owns 18,260 shares of the semiconductor company’s stock worth $1,129,000 after buying an additional 5,215 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Semtech by 12.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the semiconductor company’s stock worth $2,523,000 after buying an additional 4,500 shares during the last quarter.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now directly owns 14 shares in the company, valued at $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,747 shares of company stock valued at $1,095,061 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Semtech Stock Up 2.2 %

NASDAQ:SMTC opened at $38.71 on Friday. The business’s 50-day simple moving average is $60.86 and its two-hundred day simple moving average is $50.89. The stock has a market cap of $2.93 billion, a PE ratio of -2.97, a P/E/G ratio of 2.02 and a beta of 1.64. Semtech Co. has a 52 week low of $19.39 and a 52 week high of $79.52.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. Sell-side analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SMTC shares. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Northland Securities raised their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Roth Mkm raised their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus lowered their target price on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Robert W. Baird lowered their target price on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $67.91.

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.