Semtech Co. (NASDAQ:SMTC) Stake Raised by Legato Capital Management LLC

Legato Capital Management LLC increased its holdings in Semtech Co. (NASDAQ:SMTC) by 40.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,260 shares of the semiconductor company’s stock after buying an additional 5,215 shares during the quarter. Legato Capital Management LLC’s holdings in Semtech were worth $1,129,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SMTC. Truist Financial Corp bought a new position in shares of Semtech in the second quarter worth $340,000. CWM LLC lifted its holdings in Semtech by 33.9% in the third quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 818 shares during the period. Creative Planning grew its position in Semtech by 20.1% in the 3rd quarter. Creative Planning now owns 21,637 shares of the semiconductor company’s stock valued at $988,000 after buying an additional 3,619 shares in the last quarter. NBC Securities Inc. grew its position in Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Semtech during the 3rd quarter valued at about $169,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on SMTC shares. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a report on Monday. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. UBS Group initiated coverage on Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective on the stock. Stifel Nicolaus decreased their target price on Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Monday. Finally, Craig Hallum lifted their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.91.

Semtech Price Performance

Shares of SMTC opened at $36.65 on Thursday. The business’s 50-day moving average price is $64.12 and its 200 day moving average price is $50.75. Semtech Co. has a 1-year low of $19.12 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. The business’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the transaction, the chief financial officer now owns 4,164 shares of the company’s stock, valued at $271,284.60. The trade was a 24.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. This represents a 31.80 % decrease in their position. 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. Corporate insiders own 0.60% of the company’s stock.

Semtech Profile

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.