Semtech Co. (NASDAQ:SMTC) Stock Holdings Lifted by Legato Capital Management LLC

Legato Capital Management LLC raised its position in shares of 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 purchasing an additional 5,215 shares during the period. Legato Capital Management LLC’s holdings in Semtech were worth $1,129,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in Semtech by 12.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the semiconductor company’s stock worth $2,523,000 after buying an additional 4,500 shares during the last quarter. Regents Gate Capital LLP bought a new stake in Semtech in the fourth quarter worth approximately $2,285,000. Stephens Inc. AR acquired a new position in shares of Semtech during the 4th quarter worth $889,000. WCM Investment Management LLC bought a new position in shares of Semtech during the 4th quarter valued at $15,180,000. Finally, Entropy Technologies LP acquired a new stake in shares of Semtech in the 4th quarter valued at $629,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SMTC. UBS Group began coverage on Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 target price on the stock. Stifel Nicolaus lowered their price objective on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday. Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Craig Hallum lifted their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, B. Riley raised their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and an average target price of $67.91.

Semtech Stock Performance

Shares of SMTC opened at $36.65 on Thursday. The company has a 50-day moving average price of $64.12 and a two-hundred day moving average price of $50.75. Semtech Co. has a 12 month low of $19.12 and a 12 month high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same period in the prior year, the firm earned $0.02 EPS. Semtech’s quarterly revenue was up 17.9% compared to the same quarter last year.

Insider Transactions at Semtech

In other Semtech news, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. The trade was a 98.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the transaction, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. This represents a 35.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is owned by insiders.

About Semtech

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.