State of New Jersey Common Pension Fund D Sells 9,131 Shares of Semtech Co. (NASDAQ:SMTC)

State of New Jersey Common Pension Fund D trimmed its position in shares of Semtech Co. (NASDAQ:SMTC - Free Report) by 17.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,436 shares of the semiconductor company's stock after selling 9,131 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Semtech worth $2,748,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Semtech by 33.9% during the 3rd quarter. CWM LLC now owns 3,230 shares of the semiconductor company's stock valued at $147,000 after buying an additional 818 shares during the period. Creative Planning lifted its holdings in shares of Semtech by 20.1% during the 3rd quarter. Creative Planning now owns 21,637 shares of the semiconductor company's stock valued at $988,000 after buying an additional 3,619 shares during the last quarter. International Assets Investment Management LLC grew its stake 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 valued at $77,000 after buying an additional 1,652 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Semtech by 11.7% in the third quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the semiconductor company's stock worth $1,657,000 after buying an additional 3,800 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Semtech by 13.0% during the third quarter. State of Alaska Department of Revenue now owns 42,817 shares of the semiconductor company's stock valued at $1,955,000 after acquiring an additional 4,910 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 1,359 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $65.15, for a total value of $88,538.85. Following the transaction, the chief financial officer now owns 4,164 shares of the company's stock, valued at $271,284.60. This represents a 24.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the transaction, the senior vice president now owns 14 shares of the company's stock, valued at $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by insiders.

Semtech Stock Down 4.2 %

SMTC stock traded down $1.61 during midday trading on Friday, reaching $37.10. 2,266,338 shares of the company's stock traded hands, compared to its average volume of 2,906,474. The company has a 50-day simple moving average of $60.86 and a two-hundred day simple moving average of $50.89. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -2.84, a PEG ratio of 2.07 and a beta of 1.64. Semtech Co. has a 1-year low of $19.76 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same period in the prior year, the business earned $0.02 EPS. The business's revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group began coverage on shares of Semtech in a research note on Friday, January 17th. They set a "buy" rating and a $85.00 price target on the stock. Northland Securities upped their price target on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Stifel Nicolaus decreased their target price on Semtech from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Finally, Craig Hallum lifted their price target on shares of Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.91.

About Semtech

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.