Semtech Co. (NASDAQ:SMTC) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 12.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,407 shares of the semiconductor company’s stock after purchasing an additional 3,069 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Semtech were worth $1,757,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of Semtech during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in shares of Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 505 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after buying an additional 421 shares during the period.

Insider Transactions at Semtech

In related news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 10,890 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares of the company’s stock, valued at approximately $403,155. This represents a 48.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,577 shares of company stock worth $884,310. Insiders own 0.60% of the company’s stock.

Semtech Trading Down 2.5 %

Shares of SMTC opened at $39.62 on Friday. The firm has a market cap of $3.00 billion, a PE ratio of -3.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The company’s 50 day simple moving average is $49.04 and its 200-day simple moving average is $51.05. Semtech Co. has a 12-month low of $22.13 and a 12-month high of $79.52.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) 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 analysts’ expectations of $249.40 million. The business’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, equities research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMTC. Benchmark cut their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Roth Mkm upped their target price on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus cut their target price on shares of Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Craig Hallum cut their target price on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of Semtech in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $61.55.

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.