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

California Public Employees Retirement System bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the first quarter, Holdings Channel reports. The fund bought 141,886 shares of the semiconductor company’s stock, valued at approximately $10,910,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in Semtech in the first quarter valued at $33,000. IFP Advisors Inc purchased a new position in shares of Semtech in the 4th quarter worth about $53,000. Smartleaf Asset Management LLC increased its position in shares of Semtech by 24.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 247 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Semtech during the 4th quarter valued at about $60,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Semtech by 1,215.4% during the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 790 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SMTC shares. Stifel Nicolaus upped their target price on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Susquehanna lifted their price objective on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Finally, Roth Capital upped their price target on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.07.

Insider Activity at Semtech

In related news, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the sale, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the sale, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,234 shares of company stock worth $3,203,091 in the last quarter. 0.44% of the stock is currently owned by insiders.

Semtech Price Performance

NASDAQ SMTC opened at $125.92 on Friday. Semtech Corporation has a 52 week low of $46.02 and a 52 week high of $177.35. The company has a 50-day moving average price of $149.03 and a 200-day moving average price of $110.52. 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 capitalization of $11.73 billion, a P/E ratio of -322.87 and a beta of 2.31.

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

Semtech Profile

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.