Municipal Employees Retirement System of Michigan raised its stake in Semtech Corporation (NASDAQ:SMTC) by 20.7% during the second quarter, Holdings Channel reports. The fund owned 18,040 shares of the semiconductor company’s stock after buying an additional 3,100 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Semtech Corporation were worth $645,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SMTC. Louisiana State Employees Retirement System boosted its stake in shares of Semtech Corporation by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock valued at $958,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Semtech Corporation by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock valued at $228,000 after buying an additional 150 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Semtech Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 7,280 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 180 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Semtech Corporation by 0.3% in the first quarter. Martingale Asset Management L P now owns 67,624 shares of the semiconductor company’s stock valued at $2,286,000 after buying an additional 198 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in shares of Semtech Corporation by 1.2% in the first quarter. Chicago Equity Partners LLC now owns 28,340 shares of the semiconductor company’s stock valued at $958,000 after buying an additional 340 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Shares of Semtech Corporation (NASDAQ:SMTC) opened at 36.05 on Friday. The company’s 50-day moving average is $37.93 and its 200-day moving average is $35.43. Semtech Corporation has a 52-week low of $22.81 and a 52-week high of $41.15. The stock has a market cap of $2.37 billion, a PE ratio of 40.14 and a beta of 1.44.

Semtech Corporation (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The firm had revenue of $149.10 million during the quarter, compared to the consensus estimate of $145.60 million. During the same quarter in the prior year, the firm earned $0.30 EPS. Semtech Corporation’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts anticipate that Semtech Corporation will post $1.85 EPS for the current year.

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A number of equities research analysts recently commented on SMTC shares. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of Semtech Corporation in a research report on Sunday, May 21st. Zacks Investment Research raised shares of Semtech Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Robert W. Baird reissued an “outperform” rating and set a $45.00 target price on shares of Semtech Corporation in a research report on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and set a $39.00 target price on shares of Semtech Corporation in a research report on Thursday, July 6th. Finally, Drexel Hamilton increased their target price on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.50.

In other news, insider Charles B. Ammann sold 2,250 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $36.48, for a total transaction of $82,080.00. Following the transaction, the insider now directly owns 14,905 shares of the company’s stock, valued at approximately $543,734.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Emeka Chukwu sold 800 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.49, for a total transaction of $28,392.00. Following the transaction, the chief financial officer now directly owns 76,576 shares in the company, valued at $2,717,682.24. The disclosure for this sale can be found here. Insiders sold a total of 91,400 shares of company stock worth $3,327,434 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Semtech Corporation Company Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

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Institutional Ownership by Quarter for Semtech Corporation (NASDAQ:SMTC)

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