California Public Employees Retirement System Invests $10.91 Million in Semtech Corporation $SMTC

California Public Employees Retirement System acquired a new stake in Semtech Corporation (NASDAQ:SMTC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 141,886 shares of the semiconductor company’s stock, valued at approximately $10,910,000. California Public Employees Retirement System owned approximately 0.15% of Semtech at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Think Investments LP acquired a new stake in Semtech during the third quarter worth approximately $58,618,000. Ameriprise Financial Inc. boosted its position in Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after buying an additional 666,456 shares in the last quarter. Atreides Management LP bought a new stake in Semtech during the 2nd quarter worth $29,880,000. Assenagon Asset Management S.A. raised its holdings in Semtech by 323.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock valued at $60,051,000 after buying an additional 596,373 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Semtech in the fourth quarter worth $39,593,000.

Insider Activity

In other news, CFO Mark Lin sold 970 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the sale, the chief financial officer owned 34,896 shares of the company’s stock, valued at $5,248,707.36. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the transaction, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This trade represents a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is owned by company insiders.

Semtech Trading Down 9.2%

Shares of SMTC stock opened at $125.92 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The firm has a market cap of $11.73 billion, a P/E ratio of -322.87 and a beta of 2.31. The company has a 50 day moving average of $149.03 and a 200-day moving average of $110.52. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SMTC shares. Stifel Nicolaus increased their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Susquehanna raised their price objective on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Morgan Stanley upped their target price on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Finally, B. Riley Financial boosted their price objective on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.07.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.