Oregon Public Employees Retirement Fund Raises Holdings in Semtech Co. (NASDAQ:SMTC)

Oregon Public Employees Retirement Fund grew its position in shares of Semtech Co. (NASDAQ:SMTC) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,815 shares of the semiconductor company’s stock after buying an additional 2,124 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Semtech were worth $1,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SMTC. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock worth $48,303,000 after purchasing an additional 100,410 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Semtech by 130.7% during the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock worth $37,633,000 after purchasing an additional 466,868 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in Semtech during the 3rd quarter worth about $32,126,000.

Semtech Trading Up 8.9 %

Shares of Semtech stock opened at $38.19 on Friday. The firm has a market capitalization of $2.89 billion, a PE ratio of -2.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64. The business’s 50-day moving average price is $57.53 and its 200-day moving average price is $51.35. Semtech Co. has a 12 month low of $20.82 and a 12 month high of $79.52.

Insider Activity

In related news, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares in the company, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,747 shares of company stock worth $1,095,061. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SMTC shares. Roth Mkm increased their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Susquehanna increased their price objective on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Stifel Nicolaus dropped their price objective on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Robert W. Baird dropped their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Northland Securities raised their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and a consensus price target 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.