Employees Retirement System of Texas reduced its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 34.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,000 shares of the semiconductor company’s stock after selling 51,000 shares during the period. Employees Retirement System of Texas owned 0.15% of Semtech Corporation worth $3,539,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Semtech Corporation by 113.4% during the 1st quarter. Russell Investments Group Ltd. now owns 36,728 shares of the semiconductor company’s stock worth $1,242,000 after purchasing an additional 19,521 shares during the last quarter. Legato Capital Management LLC raised its position in Semtech Corporation by 890.2% during the 2nd quarter. Legato Capital Management LLC now owns 18,814 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 16,914 shares during the last quarter. Thrivent Financial For Lutherans raised its position in Semtech Corporation by 5.0% during the 1st quarter. Thrivent Financial For Lutherans now owns 37,010 shares of the semiconductor company’s stock worth $1,251,000 after purchasing an additional 1,760 shares during the last quarter. Sensato Investors LLC bought a new position in Semtech Corporation during the 1st quarter worth $247,000. Finally, BlackRock Inc. raised its position in Semtech Corporation by 32,758.7% during the 1st quarter. BlackRock Inc. now owns 8,382,260 shares of the semiconductor company’s stock worth $283,320,000 after purchasing an additional 8,356,750 shares during the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on SMTC. B. Riley reaffirmed a “buy” rating and set a $48.00 target price on shares of Semtech Corporation in a research report on Thursday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $39.00 target price on shares of Semtech Corporation in a research report on Tuesday, October 3rd. Zacks Investment Research lowered Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 target price on shares of Semtech Corporation in a research report on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $42.00 target price on shares of Semtech Corporation in a research report on Sunday, August 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $43.50.

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Semtech Corporation (SMTC) opened at 38.30 on Friday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 40.49 and a beta of 1.45. Semtech Corporation has a 52-week low of $22.81 and a 52-week high of $41.15. The stock has a 50 day moving average price of $36.68 and a 200 day moving average price of $36.09.

Semtech Corporation (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $153.10 million during the quarter, compared to analyst estimates of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. Semtech Corporation’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. Equities research analysts forecast that Semtech Corporation will post $1.89 earnings per share for the current year.

In other news, Director James P. Burra sold 5,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $37.65, for a total transaction of $188,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Michael Wilson sold 4,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $36.14, for a total transaction of $144,560.00. Following the sale, the executive vice president now owns 74,066 shares of the company’s stock, valued at $2,676,745.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,294 shares of company stock valued at $2,031,987. 2.10% of the stock is currently owned by company insiders.

Semtech Corporation Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

Institutional Ownership by Quarter for Semtech Corporation (NASDAQ:SMTC)

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