Public Sector Pension Investment Board Purchases 17,100 Shares of Semtech Co. (NASDAQ:SMTC)

Public Sector Pension Investment Board raised its holdings in shares of Semtech Co. (NASDAQ:SMTC) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,160 shares of the semiconductor company’s stock after purchasing an additional 17,100 shares during the period. Public Sector Pension Investment Board owned 0.21% of Semtech worth $7,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Huntington National Bank lifted its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the period. NBC Securities Inc. raised its position in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Semtech in the 2nd quarter valued at $44,000. International Assets Investment Management LLC boosted its position in shares of Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Semtech during the second quarter worth $60,000.

Semtech Price Performance

Shares of Semtech stock opened at $64.04 on Friday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -4.83 and a beta of 1.54. Semtech Co. has a one year low of $15.63 and a one year high of $66.64. The stock’s 50-day moving average is $47.00 and its 200-day moving average is $39.47.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. On average, equities analysts expect that Semtech Co. will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of recent analyst reports. Benchmark raised their target price on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Susquehanna increased their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Northland Securities lifted their price target on shares of Semtech from $46.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Stifel Nicolaus upped their price objective on shares of Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.70.

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.