State of New Jersey Common Pension Fund D Acquires 9,583 Shares of Semtech Co. (NASDAQ:SMTC)

State of New Jersey Common Pension Fund D grew its holdings in Semtech Co. (NASDAQ:SMTCGet Rating) by 25.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,739 shares of the semiconductor company’s stock after acquiring an additional 9,583 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Semtech were worth $1,375,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SMTC. Goldman Sachs Group Inc. boosted its holdings in shares of Semtech by 77.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 834,381 shares of the semiconductor company’s stock worth $57,856,000 after buying an additional 364,497 shares during the period. Macquarie Group Ltd. boosted its holdings in Semtech by 26.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,251,537 shares of the semiconductor company’s stock valued at $68,797,000 after purchasing an additional 262,930 shares during the period. BlackRock Inc. boosted its holdings in Semtech by 3.7% in the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock valued at $496,515,000 after purchasing an additional 257,224 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in Semtech in the 2nd quarter valued at $13,256,000. Finally, Renaissance Technologies LLC boosted its holdings in Semtech by 236.9% in the 1st quarter. Renaissance Technologies LLC now owns 333,916 shares of the semiconductor company’s stock valued at $23,154,000 after purchasing an additional 234,800 shares during the period. 96.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SMTC has been the subject of a number of research reports. StockNews.com downgraded shares of Semtech from a “buy” rating to a “hold” rating in a report on Friday, December 2nd. Susquehanna reduced their price target on shares of Semtech from $34.00 to $32.00 in a report on Thursday, December 1st. Cowen reduced their price target on shares of Semtech from $43.00 to $33.00 in a report on Thursday, December 1st. Benchmark dropped their price objective on shares of Semtech from $65.00 to $45.00 in a research note on Thursday, December 1st. Finally, Susquehanna Bancshares dropped their price objective on shares of Semtech to $34.00 in a research note on Monday, November 28th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Semtech currently has a consensus rating of “Hold” and an average target price of $49.08.

Semtech Trading Up 3.3 %

Shares of Semtech stock opened at $32.53 on Monday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 0.94 and a beta of 1.66. The company has a quick ratio of 5.17, a current ratio of 5.96 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $29.46 and a 200 day simple moving average of $36.50. Semtech Co. has a 12-month low of $25.29 and a 12-month high of $75.89.

Semtech (NASDAQ:SMTCGet Rating) last announced its earnings results on Wednesday, November 30th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $177.62 million during the quarter, compared to analysts’ expectations of $176.03 million. Semtech had a net margin of 18.88% and a return on equity of 21.15%. Research analysts expect that Semtech Co. will post 2.3 earnings per share for the current fiscal year.

About Semtech

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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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