Today, California Public Employees Retirement System Buys 4,200 Shares of Semtech Corp. (SMTC)

Today, California Public Employees Retirement System Buys 4,200 Shares of Semtech Corp. (SMTC)

California Public Employees Retirement System raised its position in shares of Semtech Corp. (NASDAQ:SMTC) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,100 shares of the company’s stock after buying an additional 4,200 shares during the period. California Public Employees Retirement System owned 0.24% of Semtech Corp. worth $4,412,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Frontier Capital Management Co. LLC increased its position in Semtech Corp. by 36.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,442,524 shares of the company’s stock worth $58,279,000 after buying an additional 648,271 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Semtech Corp. during the second quarter worth about $5,778,000. Vanguard Group Inc. increased its position in Semtech Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,235,323 shares of the company’s stock worth $124,915,000 after buying an additional 221,743 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Semtech Corp. by 49.1% in the second quarter. UBS Asset Management Americas Inc. now owns 626,267 shares of the company’s stock worth $14,943,000 after buying an additional 206,219 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Semtech Corp. by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,780,185 shares of the company’s stock worth $42,475,000 after buying an additional 169,956 shares in the last quarter. Hedge funds and other institutional investors own 96.53% of the company’s stock.

Semtech Corp. (NASDAQ:SMTC) traded up 0.35% on Friday, hitting $28.30. 113,190 shares of the company’s stock were exchanged. Semtech Corp. has a 12-month low of $15.70 and a 12-month high of $28.45. The company has a market cap of $1855.55 billion, a PE ratio of 65.81 and a beta of 1.39. The company’s 50-day moving average price is $25.72 and its 200-day moving average price is $25.07.

Semtech Corp. (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. Semtech Corp.’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. Analysts forecast that Semtech Corp. will post $1.34 earnings per share for the current year.

SMTC has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Drexel Hamilton raised their target price on shares of Semtech Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. Finally, B. Riley restated a “buy” rating and issued a $37.00 target price on shares of Semtech Corp. in a research note on Monday, November 21st. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $27.33.

In related news, insider Mohan Maheswaran sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $26.40, for a total transaction of $39,600.00. Following the sale, the insider now directly owns 183,367 shares of the company’s stock, valued at approximately $4,840,888.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rockell N. Hankin sold 6,795 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $27.73, for a total transaction of $188,425.35. Following the sale, the director now directly owns 166,735 shares in the company, valued at $4,623,561.55. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Semtech Corp. Company Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.

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