Louisiana State Employees Retirement System Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Louisiana State Employees Retirement System purchased a new position in Semtech Co. (NASDAQ:SMTC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 32,100 shares of the semiconductor company’s stock, valued at approximately $703,000.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Semtech in the 4th quarter worth about $164,000. Legato Capital Management LLC bought a new position in shares of Semtech in the 4th quarter worth about $201,000. Whittier Trust Co. bought a new position in shares of Semtech in the 3rd quarter worth about $207,000. Channel Wealth LLC bought a new position in shares of Semtech in the 4th quarter worth about $249,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Semtech by 30.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,772 shares of the semiconductor company’s stock worth $380,000 after acquiring an additional 3,437 shares in the last quarter.

Insider Activity

In other Semtech news, CFO Mark Lin acquired 1,000 shares of the stock in a transaction dated Monday, April 8th. The shares were purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $33,230. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $35.77 on Friday. The firm’s 50-day moving average price is $26.65 and its 200-day moving average price is $21.59. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. The company has a market cap of $2.31 billion, a PE ratio of -2.10 and a beta of 1.85. Semtech Co. has a 52-week low of $13.13 and a 52-week high of $35.93.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. As a group, analysts anticipate that Semtech Co. will post -0.09 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on SMTC. Robert W. Baird increased their price target on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Needham & Company LLC increased their price objective on shares of Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Northland Securities increased their price objective on shares of Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research report on Monday, April 1st. Oppenheimer reissued a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Finally, Craig Hallum increased their price objective on shares of Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.85.

Semtech Company 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.