State of New Jersey Common Pension Fund D Purchases 7,747 Shares of Semtech Co. (NASDAQ:SMTC)

State of New Jersey Common Pension Fund D raised its position in shares of Semtech Co. (NASDAQ:SMTC) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,567 shares of the semiconductor company’s stock after buying an additional 7,747 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of Semtech worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SMTC. Disciplined Growth Investors Inc. MN increased its holdings in Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Semtech during the second quarter worth $43,395,000. Millennium Management LLC increased its stake in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares in the last quarter. Clearline Capital LP raised its holdings in shares of Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after buying an additional 529,194 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in Semtech during the 2nd quarter worth about $14,307,000.

Analyst Ratings Changes

SMTC has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Benchmark restated a “buy” rating and issued a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus upped their price objective on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Finally, B. Riley upped their price target on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Trading Down 0.4 %

Semtech stock opened at $49.01 on Thursday. The firm has a market capitalization of $3.69 billion, a P/E ratio of -3.62 and a beta of 1.54. The business has a 50-day moving average of $44.53 and a 200-day moving average of $38.41. Semtech Co. has a 1 year low of $14.82 and a 1 year high of $53.22.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating 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 firm had revenue of $215.40 million during the quarter, compared to the consensus estimate of $212.30 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was down 9.6% on a year-over-year basis. Research analysts anticipate that Semtech Co. will post -0.07 EPS for the current fiscal year.

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.