Semtech Corporation $SMTC Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,457 shares of the semiconductor company’s stock after buying an additional 356 shares during the period. Maryland State Retirement & Pension System’s holdings in Semtech were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Semtech during the 2nd quarter worth about $33,000. Smartleaf Asset Management LLC lifted its holdings in Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock worth $36,000 after buying an additional 257 shares during the last quarter. Archer Investment Corp purchased a new stake in Semtech during the 1st quarter worth about $64,000. Strs Ohio purchased a new stake in Semtech during the 1st quarter worth about $65,000. Finally, Jones Financial Companies Lllp lifted its holdings in Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after buying an additional 2,565 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Cowen assumed coverage on Semtech in a report on Wednesday, October 1st. They set a “buy” rating and a $75.00 price target for the company. Piper Sandler lifted their price target on Semtech from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Northland Securities boosted their target price on Semtech from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, August 26th. Needham & Company LLC boosted their target price on Semtech from $54.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, Stifel Nicolaus set a $80.00 target price on Semtech in a report on Wednesday, October 1st. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.36.

Insider Activity

In related news, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total value of $219,625.00. Following the transaction, the director owned 6,909 shares in the company, valued at $433,539.75. The trade was a 33.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark Lin sold 971 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $72.83, for a total value of $70,717.93. Following the completion of the transaction, the chief financial officer owned 17,844 shares in the company, valued at $1,299,578.52. This trade represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Semtech Stock Down 6.8%

Semtech stock opened at $65.26 on Monday. The company has a market capitalization of $5.66 billion, a P/E ratio of 271.92 and a beta of 2.01. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The stock has a 50-day simple moving average of $59.13 and a 200-day simple moving average of $45.98. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53.

Semtech Company Profile

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