Police & Firemen s Retirement System of New Jersey Increases Holdings in Semtech Corporation $SMTC

Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 21.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,682 shares of the semiconductor company’s stock after acquiring an additional 3,494 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Semtech were worth $888,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB acquired a new position in Semtech in the second quarter valued at approximately $4,230,000. Deutsche Bank AG raised its holdings in Semtech by 168.1% during the first quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock worth $41,627,000 after purchasing an additional 758,642 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Semtech by 7.9% during the 1st quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company’s stock worth $79,575,000 after buying an additional 170,132 shares during the last quarter. EFG Asset Management North America Corp. boosted its holdings in shares of Semtech by 15.6% in the 2nd quarter. EFG Asset Management North America Corp. now owns 94,872 shares of the semiconductor company’s stock valued at $4,282,000 after buying an additional 12,796 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new position in shares of Semtech in the 1st quarter valued at $6,591,000.

Insider Buying and Selling at Semtech

In related news, Director Martin Burvill sold 3,500 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the sale, the director directly owned 6,909 shares of the company’s stock, valued at $433,539.75. This trade represents a 33.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total transaction of $33,120.00. Following the completion of the transaction, the director directly owned 26,779 shares in the company, valued at $1,773,840.96. This represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 4,971 shares of company stock worth $323,463. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SMTC. Weiss Ratings reissued a “sell (d)” rating on shares of Semtech in a research report on Wednesday, October 8th. 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. Benchmark upped their target price on Semtech from $68.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Wall Street Zen lowered Semtech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, UBS Group boosted their price objective on Semtech from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $68.93.

Semtech Stock Performance

NASDAQ SMTC opened at $63.85 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $79.52. The business’s 50-day moving average price is $67.03 and its 200 day moving average price is $54.03. The firm has a market cap of $5.54 billion, a P/E ratio of 266.04 and a beta of 2.03.

Semtech 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.