VIRGINIA RETIREMENT SYSTEMS ET Al Has $1.11 Million Stake in Semtech Corporation $SMTC

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 50.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,050 shares of the semiconductor company’s stock after buying an additional 5,050 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Semtech were worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SMTC. Hantz Financial Services Inc. lifted its holdings in shares of Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 360 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 235 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 576 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Semtech by 151.3% in the 3rd quarter. Huntington National Bank now owns 749 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 451 shares in the last quarter.

Analysts Set New Price Targets

SMTC has been the topic of a number of recent research reports. Benchmark increased their target price on Semtech from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. B. Riley Financial reiterated a “buy” rating on shares of Semtech in a report on Tuesday. Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Oppenheimer increased their target price on Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Finally, Stifel Nicolaus increased their target price on Semtech from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average price target of $95.71.

Insider Activity at Semtech

In other news, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $105.93, for a total transaction of $52,965.00. Following the sale, the director directly owned 23,779 shares in the company, valued at $2,518,909.47. The trade was a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 974 shares of Semtech stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total value of $76,381.08. Following the sale, the chief financial officer owned 33,343 shares in the company, valued at $2,614,758.06. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 36,384 shares of company stock worth $3,000,140. 0.48% of the stock is owned by company insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $137.64 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $95.29 and its two-hundred day simple moving average is $83.55. Semtech Corporation has a 1-year low of $34.59 and a 1-year high of $143.34. The stock has a market cap of $12.82 billion, a PE ratio of -312.82 and a beta of 2.22.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The business’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. As a group, analysts forecast that Semtech Corporation will post 1.6 EPS for the current fiscal year.

Semtech Company 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.