Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1 Million Position in Semtech Corporation $SMTC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Semtech Corporation (NASDAQ:SMTC) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,240 shares of the semiconductor company’s stock after purchasing an additional 1,684 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Semtech were worth $1,004,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SMTC. Westfield Capital Management Co. LP bought a new stake in shares of Semtech in the first quarter valued at about $45,489,000. Ameriprise Financial Inc. raised its stake in Semtech by 15.8% in the 1st quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company’s stock worth $221,737,000 after purchasing an additional 877,422 shares in the last quarter. Nuveen LLC bought a new stake in Semtech in the 1st quarter valued at about $27,940,000. Invesco Ltd. grew its position in shares of Semtech by 74.0% during the 1st quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company’s stock worth $61,926,000 after purchasing an additional 765,558 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Semtech by 168.1% during the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock worth $41,627,000 after purchasing an additional 758,642 shares in the last quarter.

Semtech Stock Performance

Shares of Semtech stock opened at $63.85 on Monday. The company has a market cap of $5.54 billion, a P/E ratio of 266.04 and a beta of 2.03. The business has a 50-day moving average price of $67.03 and a two-hundred day moving average price of $54.17. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $79.52.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SMTC shares. TD Cowen started coverage on shares of Semtech in a research report on Wednesday, October 1st. They issued a “buy” rating and a $75.00 price target for the company. Benchmark lifted their price objective on Semtech from $68.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Cowen initiated coverage on Semtech in a report on Tuesday, September 30th. They set a “buy” rating on the stock. UBS Group boosted their price target on Semtech from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, Wall Street Zen downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.93.

Insider Activity at Semtech

In related news, CFO Mark Lin sold 971 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the sale, the chief financial officer directly owned 17,844 shares in the company, valued at approximately $1,299,578.52. This represents a 5.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Burvill sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the sale, the director owned 6,909 shares in the company, valued at $433,539.75. This represents a 33.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,971 shares of company stock valued at $323,463. 0.48% of the stock is owned by corporate insiders.

About Semtech

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.