Legato Capital Management LLC Buys 12,759 Shares of Semtech Corporation $SMTC

Legato Capital Management LLC boosted its stake in Semtech Corporation (NASDAQ:SMTC) by 48.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,835 shares of the semiconductor company’s stock after acquiring an additional 12,759 shares during the period. Legato Capital Management LLC’s holdings in Semtech were worth $2,862,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after acquiring an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Semtech by 3.7% in the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after acquiring an additional 261,647 shares in the last quarter. Capital Research Global Investors boosted its holdings in Semtech by 13.9% in the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after acquiring an additional 571,372 shares in the last quarter. State Street Corp lifted its position in Semtech by 1.5% during the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Semtech by 8.7% during the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock valued at $257,770,000 after buying an additional 289,313 shares during the period.

Semtech Stock Performance

Shares of Semtech stock opened at $156.78 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $14.60 billion, a P/E ratio of -356.32 and a beta of 2.22. The business has a fifty day simple moving average of $100.99 and a two-hundred day simple moving average of $86.11. Semtech Corporation has a 12 month low of $34.59 and a 12 month high of $164.48.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.Semtech’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, equities analysts forecast that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMTC. Robert W. Baird raised their price objective on Semtech from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Craig Hallum raised their price objective on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Stifel Nicolaus set a $157.00 price objective on Semtech in a research report on Thursday. Morgan Stanley raised their price objective on Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Finally, TD Cowen reissued a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.50.

Insider Transactions at Semtech

In other news, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the completion of the transaction, the director owned 23,279 shares of the company’s stock, valued at $3,217,390.59. The trade was a 2.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin Burvill sold 2,500 shares of Semtech stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the transaction, the director directly owned 4,409 shares of the company’s stock, valued at approximately $392,312.82. This represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,884 shares of company stock worth $3,069,245 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

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.