Semtech Co. (NASDAQ:SMTC) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in Semtech Co. (NASDAQ:SMTC) by 2.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 99,674 shares of the semiconductor company’s stock after selling 2,539 shares during the quarter. California State Teachers Retirement System’s holdings in Semtech were worth $5,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SMTC. JPMorgan Chase & Co. lifted its holdings in Semtech by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 64,824 shares of the semiconductor company’s stock worth $3,604,000 after buying an additional 9,237 shares during the period. Vanguard Group Inc lifted its holdings in Semtech by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock worth $378,481,000 after buying an additional 122,945 shares during the period. Bank of Montreal Can lifted its holdings in Semtech by 223.4% in the 4th quarter. Bank of Montreal Can now owns 8,283 shares of the semiconductor company’s stock worth $381,000 after buying an additional 5,722 shares during the period. IFP Advisors Inc lifted its holdings in Semtech by 44.7% in the 4th quarter. IFP Advisors Inc now owns 1,010 shares of the semiconductor company’s stock worth $46,000 after buying an additional 312 shares during the period. Finally, Strs Ohio lifted its holdings in Semtech by 9.2% in the 4th quarter. Strs Ohio now owns 7,100 shares of the semiconductor company’s stock worth $325,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 96.45% of the company’s stock.

In related news, VP Alisair Fulton sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $52.78, for a total transaction of $26,390.00. Following the completion of the transaction, the vice president now owns 1,882 shares of the company’s stock, valued at approximately $99,331.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Jungsup Kim sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $43.81, for a total value of $1,314,300.00. Following the transaction, the executive vice president now directly owns 81,854 shares of the company’s stock, valued at approximately $3,586,023.74. The disclosure for this sale can be found here. Insiders sold a total of 147,514 shares of company stock valued at $7,645,374 in the last three months. Corporate insiders own 1.96% of the company’s stock.



Shares of NASDAQ:SMTC opened at $43.24 on Thursday. Semtech Co. has a 52-week low of $39.54 and a 52-week high of $60.55. The company has a market capitalization of $2.88 billion, a PE ratio of 32.51, a PEG ratio of 3.04 and a beta of 1.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 3.71.

Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.16. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The firm had revenue of $131.40 million during the quarter, compared to analyst estimates of $130.40 million. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was down 13.5% compared to the same quarter last year. Equities research analysts forecast that Semtech Co. will post 1.15 EPS for the current year.

Several research firms have weighed in on SMTC. ValuEngine cut Semtech from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Wells Fargo & Co started coverage on Semtech in a report on Tuesday, May 14th. They issued an “outperform” rating and a $48.03 price objective for the company. BidaskClub lowered Semtech from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Cowen started coverage on Semtech in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $56.00 target price for the company. Finally, Zacks Investment Research lowered Semtech from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $56.54.

WARNING: “Semtech Co. (NASDAQ:SMTC) Shares Sold by California State Teachers Retirement System” was first published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this piece of content on another site, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece of content can be read at https://dakotafinancialnews.com/2019/06/13/semtech-co-nasdaqsmtc-shares-sold-by-california-state-teachers-retirement-system.html.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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.

Recommended Story: Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Co. (NASDAQ:SMTC).

Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.