Teachers Retirement System of The State of Kentucky Buys 6,194 Shares of Semtech Corporation (NASDAQ:SMTC)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,533 shares of the semiconductor company’s stock after acquiring an additional 6,194 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Semtech were worth $1,428,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. bought a new position in shares of Semtech during the 1st quarter valued at approximately $2,528,000. Archer Investment Corp bought a new position in shares of Semtech during the 1st quarter valued at approximately $64,000. Edgestream Partners L.P. boosted its position in shares of Semtech by 496.0% during the 1st quarter. Edgestream Partners L.P. now owns 65,110 shares of the semiconductor company’s stock valued at $2,240,000 after acquiring an additional 54,185 shares during the last quarter. CWM LLC boosted its position in shares of Semtech by 23.3% during the 1st quarter. CWM LLC now owns 3,751 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 709 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in shares of Semtech by 75.6% during the 1st quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company’s stock valued at $3,402,000 after acquiring an additional 42,587 shares during the last quarter.

Insider Transactions at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction dated 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 owned 105,996 shares of the company’s stock, valued at $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 999 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total transaction of $43,796.16. Following the transaction, the chief financial officer owned 17,211 shares in the company, valued at approximately $754,530.24. This trade represents a 5.49% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SMTC. Morgan Stanley set a $43.00 target price on Semtech in a research report on Wednesday, May 28th. UBS Group lowered their target price on Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Stifel Nicolaus increased their target price on Semtech from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.58.

Semtech Price Performance

SMTC opened at $52.53 on Friday. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $79.52. The business’s fifty day simple moving average is $43.07 and its 200-day simple moving average is $42.61. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -25.50 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.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $249.79 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

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.