California State Teachers Retirement System Acquires 17,344,126 Shares of Semtech Corporation $SMTC

California State Teachers Retirement System raised its holdings in Semtech Corporation (NASDAQ:SMTC) by 16,868.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,446,944 shares of the semiconductor company’s stock after acquiring an additional 17,344,126 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Semtech worth $2,823,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SMTC. Jones Financial Companies Lllp lifted its stake in shares of Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 2,565 shares in the last quarter. Empowered Funds LLC grew its stake in Semtech by 11.5% in the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after buying an additional 968 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Semtech by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock valued at $14,166,000 after buying an additional 22,629 shares in the last quarter. Strs Ohio bought a new stake in Semtech during the 1st quarter valued at $65,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Semtech during the second quarter worth $226,000.

Insiders Place Their Bets

In other news, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the transaction, the executive vice president owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Wilson sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the transaction, the insider owned 80,876 shares in the company, valued at approximately $13,748,920. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,234 shares of company stock worth $3,304,706. 0.44% of the stock is owned by corporate insiders.

Semtech Stock Down 2.9%

SMTC opened at $159.13 on Friday. The company has a fifty day moving average price of $133.22 and a 200-day moving average price of $123.06. The firm has a market capitalization of $14.85 billion, a P/E ratio of 105.38 and a beta of 2.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. Semtech Corporation has a one year low of $57.50 and a one year high of $177.35.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The company had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts expect that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Susquehanna raised their price target on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th. Stifel Nicolaus boosted their price objective on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings raised Semtech from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Finally, New Street Research set a $230.00 target price on Semtech in a research note on Thursday, August 20th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.71.

Semtech Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.