State of New Jersey Common Pension Fund D Sells 6,773 Shares of Semtech Corporation $SMTC

State of New Jersey Common Pension Fund D trimmed its position in Semtech Corporation (NASDAQ:SMTC) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,067 shares of the semiconductor company’s stock after selling 6,773 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Semtech were worth $3,077,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP boosted its position in shares of Semtech by 107.8% in the second quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company’s stock worth $124,011,000 after purchasing an additional 1,424,909 shares during the period. Ameriprise Financial Inc. boosted its holdings in Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares during the period. Atreides Management LP purchased a new stake in Semtech in the 2nd quarter worth $29,880,000. Hood River Capital Management LLC raised its holdings in Semtech by 36.0% during the second quarter. Hood River Capital Management LLC now owns 2,244,631 shares of the semiconductor company’s stock valued at $101,323,000 after acquiring an additional 594,529 shares during the period. Finally, Emerald Advisers LLC purchased a new position in shares of Semtech in the third quarter valued at about $29,944,000.

Insider Activity at Semtech

In related news, Director Saar Gillai sold 3,600 shares of Semtech stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $75.26, for a total transaction of $270,936.00. Following the completion of the transaction, the director directly owned 9,523 shares of the company’s stock, valued at approximately $716,700.98. The trade was a 27.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Michael Fischer sold 1,034 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $75.50, for a total transaction of $78,067.00. Following the transaction, the director owned 2,857 shares in the company, valued at $215,703.50. The trade was a 26.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,967 shares of company stock worth $2,236,108 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Susquehanna increased their target price on Semtech from $65.00 to $80.00 and gave the stock a “positive” rating in a research report on Tuesday, November 18th. Benchmark increased their price objective on shares of Semtech from $76.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Semtech in a report on Monday, December 29th. UBS Group restated a “buy” rating on shares of Semtech in a research report on Tuesday, November 25th. Finally, Wall Street Zen downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $79.21.

Semtech Price Performance

Semtech stock opened at $86.77 on Friday. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $92.50. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average is $79.38 and its 200 day moving average is $69.75. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 279.90 and a beta of 2.01.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 24th. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The firm had revenue of $266.97 million for the quarter, compared to the consensus estimate of $266.36 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Sell-side analysts forecast that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.