Teacher Retirement System of Texas Takes $430,000 Position in Semtech Corporation (NASDAQ:SMTC)

Teacher Retirement System of Texas acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,497 shares of the semiconductor company’s stock, valued at approximately $430,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after acquiring an additional 1,326,226 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of Semtech by 1.8% during the fourth quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company’s stock worth $213,385,000 after acquiring an additional 59,743 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Semtech by 364.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after buying an additional 2,562,602 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after acquiring an additional 1,911,890 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Semtech by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company’s stock worth $112,317,000 after purchasing an additional 197,732 shares in the last quarter.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $50.87 on Friday. Semtech Corporation has a one year low of $24.05 and a one year high of $79.52. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -24.69 and a beta of 1.92. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $41.67 and a 200 day simple moving average of $43.00.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The company had revenue of $251.10 million for the quarter, compared to analysts’ expectations of $249.79 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts expect that Semtech Corporation will post -0.02 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley set a $43.00 price target on Semtech in a research report on Wednesday, May 28th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 target price on shares of Semtech in a research note on Wednesday, May 28th. UBS Group reduced their target price on shares of Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, May 5th. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus increased their price objective on shares of Semtech from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average price target of $58.58.

Insider Transactions at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total transaction of $85,960.00. Following the sale, the chief operating officer directly owned 105,996 shares of the company’s stock, valued at approximately $4,555,708.08. This represents a 1.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 999 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the sale, the chief financial officer owned 17,211 shares of the company’s stock, valued at $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.