Semtech Co. (NASDAQ:SMTC) Holdings Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Semtech Co. (NASDAQ:SMTC – Get Rating) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,156 shares of the semiconductor company’s stock after selling 4,748 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Semtech worth $3,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. bought a new stake in shares of Semtech in the 3rd quarter valued at approximately $166,000. CIBC Asset Management Inc bought a new position in Semtech during the 3rd quarter worth $200,000. Cim Investment Management Inc. bought a new position in Semtech during the 3rd quarter worth $202,000. Fulton Bank N.A. bought a new position in Semtech during the 4th quarter worth $203,000. Finally, Prudent Man Advisors LLC bought a new position in Semtech during the 3rd quarter worth $205,000. Institutional investors and hedge funds own 96.62% of the company’s stock.

A number of brokerages recently commented on SMTC. Susquehanna upped their price objective on Semtech from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, March 17th. Stifel Nicolaus lowered their price objective on Semtech from $102.00 to $95.00 in a research note on Thursday, March 17th. B. Riley boosted their price target on Semtech from $83.00 to $87.00 in a research report on Thursday, March 17th. StockNews.com assumed coverage on Semtech in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Susquehanna Bancshares boosted their price target on Semtech from $69.00 to $75.00 in a research report on Thursday, March 17th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $83.27.

In other news, VP Alistair Fulton sold 1,200 shares of the company’s stock in a transaction on Thursday, January 13th. The stock was sold at an average price of $81.83, for a total transaction of $98,196.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Asaf Silberstein sold 1,000 shares of the company’s stock in a transaction on Friday, January 14th. The shares were sold at an average price of $80.50, for a total value of $80,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,400 shares of company stock valued at $4,061,938. 1.30% of the stock is currently owned by company insiders.

Shares of Semtech stock opened at $60.72 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.02 and a current ratio of 3.91. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.54. The company has a fifty day moving average price of $68.38. Semtech Co. has a fifty-two week low of $57.97 and a fifty-two week high of $94.92.

Semtech (NASDAQ:SMTC – Get Rating) last announced its quarterly earnings data on Wednesday, March 16th. The semiconductor company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Semtech had a return on equity of 17.89% and a net margin of 16.96%. The business had revenue of $190.60 million during the quarter, compared to analyst estimates of $189.34 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts expect that Semtech Co. will post 2.76 EPS for the current year.

About Semtech (Get Rating)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company 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.

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