Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 1,970 Shares of Semtech Co. (NASDAQ:SMTC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Semtech Co. (NASDAQ:SMTC) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,008 shares of the semiconductor company’s stock after purchasing an additional 1,970 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Semtech were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SMTC. Hollencrest Capital Management purchased a new position in Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares during the last quarter. AlphaQuest LLC raised its position in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Semtech during the fourth quarter valued at approximately $91,000. Finally, Pacer Advisors Inc. grew its stake in shares of Semtech by 51.1% in 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 during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on SMTC. Northland Securities lifted their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Craig Hallum cut their price target on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Benchmark reduced their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Piper Sandler reissued an “overweight” rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Finally, Robert W. Baird dropped their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.55.

Semtech Stock Performance

Shares of Semtech stock opened at $38.69 on Thursday. The stock has a 50 day moving average of $47.38 and a 200 day moving average of $51.08. Semtech Co. has a fifty-two week low of $25.78 and a fifty-two week high of $79.52. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -2.96, a PEG ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter last year, the firm earned ($0.06) EPS. The business’s revenue was up 30.1% on a year-over-year basis. Analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares in the company, valued at approximately $271,284.60. This trade represents a 24.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the chief operating officer now owns 76,417 shares of the company’s stock, valued at $5,349,190. This represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,577 shares of company stock valued at $884,310. 0.60% of the stock is currently owned by insiders.

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.