Louisiana State Employees Retirement System Acquires 4,500 Shares of Semtech Co. (NASDAQ:SMTC)

Louisiana State Employees Retirement System raised its position in shares of Semtech Co. (NASDAQ:SMTC) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,800 shares of the semiconductor company’s stock after purchasing an additional 4,500 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of Semtech worth $2,523,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC lifted its holdings in Semtech by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 673 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in Semtech by 148.6% during the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 12,296 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Semtech by 128.3% during the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock valued at $1,394,000 after purchasing an additional 17,150 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Semtech by 100.2% during the third quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock valued at $1,626,000 after purchasing an additional 17,823 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Semtech by 135.9% during the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after purchasing an additional 24,517 shares in the last quarter.

Semtech Stock Up 0.2 %

Semtech stock opened at $36.73 on Friday. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -2.81, a PEG ratio of 2.98 and a beta of 1.64. The firm’s fifty day moving average is $63.55 and its 200 day moving average is $50.65. Semtech Co. has a 52-week low of $19.20 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the previous year, the company earned $0.02 EPS. Semtech’s revenue for the quarter was up 17.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SMTC shares. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a report on Monday. Northland Securities boosted their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Susquehanna boosted their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Benchmark boosted their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, B. Riley boosted their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. 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 currently has an average rating of “Moderate Buy” and an average target price of $67.91.

Insider Buying and Selling at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the chief operating officer now owns 76,417 shares in the company, valued at $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,747 shares of company stock worth $1,095,061 over the last quarter. Insiders own 0.60% of the company’s stock.

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.