State of New Jersey Common Pension Fund D Trims Stock Holdings in Semtech Corporation $SMTC

State of New Jersey Common Pension Fund D lowered its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SMTC. AlphaQuest LLC boosted its stake in shares of Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 173 shares during the period. Archer Investment Corp increased its stake in Semtech by 10.8% in the 2nd quarter. Archer Investment Corp now owns 2,050 shares of the semiconductor company’s stock worth $93,000 after buying an additional 200 shares during the period. Amalgamated Bank boosted its position in Semtech by 0.9% in the 2nd quarter. Amalgamated Bank now owns 24,229 shares of the semiconductor company’s stock valued at $1,094,000 after buying an additional 214 shares during the period. Jones Financial Companies Lllp boosted its position in Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 235 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 247 shares in the last quarter.

Insider Buying and Selling

In other Semtech news, Director Gregory Michael Fischer sold 1,034 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $75.50, for a total value of $78,067.00. Following the completion of the sale, the director owned 2,857 shares of the company’s stock, valued at approximately $215,703.50. This trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $78.25, for a total value of $39,125.00. Following the sale, the director owned 25,279 shares in the company, valued at $1,978,081.75. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,967 shares of company stock valued at $2,236,108 in the last 90 days. 0.48% of the stock is owned by insiders.

Semtech Trading Up 2.1%

NASDAQ:SMTC opened at $86.77 on Friday. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 279.90 and a beta of 2.01. 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 has a 50 day moving average of $79.38 and a 200 day moving average of $69.75.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The business had revenue of $266.97 million for the quarter, compared to the consensus estimate of $266.36 million. During the same period in the prior year, the firm posted $0.26 earnings per share. 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. As a group, sell-side analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SMTC shares. Morgan Stanley set a $67.00 price target on shares of Semtech in a research note on Tuesday, November 25th. Oppenheimer reaffirmed an “outperform” rating and set a $81.00 target price on shares of Semtech in a research report on Tuesday, November 25th. Piper Sandler reissued an “overweight” rating and set a $95.00 price target (up previously from $70.00) on shares of Semtech in a research report on Thursday, December 11th. B. Riley Financial raised their price target on Semtech from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $79.21.

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.