Osterweis Capital Management Inc. Makes New Investment in Semtech Corporation $SMTC

Osterweis Capital Management Inc. acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the second quarter, Holdings Channel reports. The institutional investor acquired 60,445 shares of the semiconductor company’s stock, valued at approximately $9,783,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FNY Investment Advisers LLC lifted its stake in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Semtech during the 2nd quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new stake in Semtech during the 1st quarter worth approximately $33,000. IFP Advisors Inc purchased a new stake in shares of Semtech during the fourth quarter worth $53,000. Finally, Allworth Financial LP acquired a new stake in shares of Semtech in the second quarter valued at $55,000.

Analysts Set New Price Targets

SMTC has been the subject of several analyst reports. Roth Capital boosted their target price on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday. Benchmark reiterated a “buy” rating on shares of Semtech in a research note on Thursday. Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Robert W. Baird increased their target price on shares of Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.47.

Semtech Stock Down 2.6%

SMTC opened at $120.91 on Tuesday. The company has a market cap of $11.26 billion, a price-to-earnings ratio of -310.03 and a beta of 2.35. Semtech Corporation has a one year low of $50.42 and a one year high of $177.35. The business’s fifty day moving average is $136.80 and its two-hundred day moving average is $117.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same period last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Transactions at Semtech

In related news, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the transaction, the executive vice president owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the transaction, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,734 shares of company stock worth $3,133,986 in the last ninety days. Company insiders own 0.44% of the company’s stock.

About Semtech

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.