Osterweis Capital Management Inc. Purchases Shares of 60,445 Semtech Corporation $SMTC

Osterweis Capital Management Inc. purchased a new stake in Semtech Corporation (NASDAQ:SMTC) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 60,445 shares of the semiconductor company’s stock, valued at approximately $9,783,000. Osterweis Capital Management Inc. owned approximately 0.06% of Semtech as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC lifted its position in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 180 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Semtech in the second quarter valued at approximately $32,000. Banque Cantonale Vaudoise purchased a new position in Semtech in the first quarter worth $33,000. IFP Advisors Inc purchased a new position in Semtech in the fourth quarter worth $53,000. Finally, Allworth Financial LP acquired a new position in shares of Semtech during the second quarter worth $55,000.

Semtech Stock Down 2.6%

Shares of SMTC stock opened at $120.91 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $136.80 and a 200 day moving average of $117.89. Semtech Corporation has a twelve month low of $50.42 and a twelve month high of $177.35. The stock has a market cap of $11.26 billion, a P/E ratio of -310.03 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $283.53 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts expect that Semtech Corporation will post 1.81 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 970 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the sale, the chief financial officer owned 34,896 shares of the company’s stock, valued at $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 21,734 shares of company stock valued at $3,133,986. 0.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SMTC. Roth Capital increased their price objective on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Monday. TD Cowen boosted their target price on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Craig Hallum upped their target price on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. UBS Group increased their price target on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Susquehanna raised their price target on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $189.47.

Semtech 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.