State of New Jersey Common Pension Fund D boosted its holdings in Semtech Co. (NASDAQ:SMTC – Get Rating) by 63.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,597 shares of the semiconductor company’s stock after purchasing an additional 29,858 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.12% of Semtech worth $2,198,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of Semtech by 2,792.2% in the third quarter. Federated Hermes Inc. now owns 1,582,315 shares of the semiconductor company’s stock valued at $46,536,000 after acquiring an additional 1,527,605 shares during the period. BlackRock Inc. increased its position in shares of Semtech by 18.0% in the third quarter. BlackRock Inc. now owns 8,735,877 shares of the semiconductor company’s stock valued at $256,921,000 after acquiring an additional 1,331,220 shares during the period. Two Sigma Advisers LP increased its position in shares of Semtech by 409.0% in the third quarter. Two Sigma Advisers LP now owns 1,194,000 shares of the semiconductor company’s stock valued at $35,116,000 after acquiring an additional 959,400 shares during the period. Two Sigma Investments LP increased its position in shares of Semtech by 609.8% in the third quarter. Two Sigma Investments LP now owns 993,051 shares of the semiconductor company’s stock valued at $29,206,000 after acquiring an additional 853,153 shares during the period. Finally, State Street Corp increased its position in shares of Semtech by 18.0% in the third quarter. State Street Corp now owns 2,972,853 shares of the semiconductor company’s stock valued at $87,432,000 after acquiring an additional 453,726 shares during the period. 96.32% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Susquehanna decreased their price objective on shares of Semtech from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, March 30th. Stifel Nicolaus reduced their price target on shares of Semtech from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Northland Securities started coverage on shares of Semtech in a research report on Tuesday, April 11th. They set an “outperform” rating and a $32.00 price target on the stock. Robert W. Baird reduced their price target on shares of Semtech from $48.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, March 31st. Finally, B. Riley reiterated a “buy” rating and set a $52.00 price target on shares of Semtech in a research report on Thursday, March 30th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Semtech presently has an average rating of “Hold” and a consensus price target of $44.67.
Semtech Trading Down 1.0 %
Semtech Profile
Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.
Further Reading
- Get a free copy of the StockNews.com research report on Semtech (SMTC)
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