45,820 Shares in Semtech Co. (NASDAQ:SMTC) Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new position in shares of Semtech Co. (NASDAQ:SMTC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 45,820 shares of the semiconductor company’s stock, valued at approximately $1,369,000. State of New Jersey Common Pension Fund D owned about 0.07% of Semtech at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SMTC. Arizona State Retirement System lifted its position in shares of Semtech by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after purchasing an additional 407 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Semtech by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Semtech by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after buying an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Semtech by 4.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock valued at $463,000 after acquiring an additional 710 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 773 shares during the last quarter.

Analyst Upgrades and Downgrades

SMTC has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Susquehanna upped their price objective on shares of Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, June 6th. B. Riley lifted their target price on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Finally, Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Trading Down 0.3 %

Shares of SMTC opened at $47.47 on Thursday. The stock has a market cap of $3.57 billion, a PE ratio of -2.81 and a beta of 1.54. Semtech Co. has a 1 year low of $13.13 and a 1 year high of $48.24. The stock has a 50 day simple moving average of $36.96 and a 200-day simple moving average of $34.42.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The business had revenue of $215.40 million for the quarter, compared to analyst estimates of $212.30 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that Semtech Co. will post -0.07 EPS for the current fiscal year.

About Semtech

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.