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

State of New Jersey Common Pension Fund D lifted its stake in shares of Semtech Co. (NASDAQ:SMTC) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,567 shares of the semiconductor company’s stock after acquiring an additional 7,747 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Semtech were worth $2,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SMTC. Arizona State Retirement System increased its holdings in 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 in the last quarter. Hanseatic Management Services Inc. raised its position in Semtech by 3.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after buying an additional 447 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Semtech by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 461 shares in the last quarter. Creative Planning boosted its position in Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Semtech by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after acquiring an additional 700 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Roth Mkm reissued a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Stifel Nicolaus upped their target price on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Benchmark restated a “buy” rating and issued a $56.00 price target on shares of Semtech in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Semtech Trading Down 0.4 %

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

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

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.