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

Public Sector Pension Investment Board grew its stake in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,160 shares of the semiconductor company's stock after acquiring an additional 17,100 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Semtech worth $7,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Huntington National Bank boosted its position in shares of Semtech by 105.2% during 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 last quarter. Ridgewood Investments LLC purchased a new stake in shares of Semtech during the second quarter valued at $44,000. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the second quarter valued at $60,000. NBC Securities Inc. boosted its position in shares of Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock valued at $62,000 after buying an additional 739 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Semtech during the second quarter valued at $63,000.

Semtech Trading Down 0.2 %

SMTC traded down $0.16 on Friday, hitting $64.04. 1,113,717 shares of the company's stock traded hands, compared to its average volume of 1,832,678. The company's 50 day simple moving average is $47.37 and its 200-day simple moving average is $39.65. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -4.91 and a beta of 1.54. Semtech Co. has a one year low of $15.63 and a one year high of $66.64.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same quarter last year, the company earned $0.02 EPS. The firm's quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts anticipate that Semtech Co. will post -0.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Benchmark increased their price objective on Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday. Susquehanna increased their price objective on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, November 21st. B. Riley increased their price objective on Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday. Stifel Nicolaus raised their target price on Semtech from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Craig Hallum raised their target price on Semtech from $48.00 to $70.00 and gave the stock 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.