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Tuesday, May 24, 2022

Briefs: Semtech, LTC

Shares in Semtech Corp. rose nearly 5 percent on Thursday the day after release of the company’s fiscal second quarter earnings. The Camarillo semiconductor maker reported net income of $17.9 million (26 cents a share) for the quarter ended July 27, compared with $19.1 million (28 cents) in the same period a year earlier. Revenue fell 12 percent to $146 million. Semtech Chief Executive Mohan Maheswaran said that the strongest growth for the company comes from its wireless communications and datacenter products. Shares closed up $1.15, or about 5 percent, to $25.15 on the Nasdaq. LTC Properties Inc. announced on Thursday that it has sold $30 million in unsecured notes to pay down its credit line. The Westlake Village real estate investment trust focused on medical properties sold the 4.5 percent notes to affiliates and managed accounts of Prudential Investment Management Inc. The notes are due July 31, 2026, according to a filing with the Securities and Exchange Commission. LTC had 224 investments located in 29 states, including 101 skilled nursing facilities and 104 assisted living homes as of June 30. Shares closed down 29 cents, or less than one percent, to $40.67 on the New York Stock Exchange.

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