Mark Lin Sells 6,114 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 6,114 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Semtech Stock Performance

Shares of NASDAQ:SMTC traded up $0.66 during trading on Thursday, reaching $63.58. The stock had a trading volume of 1,525,039 shares, compared to its average volume of 1,873,215. The business has a fifty day moving average price of $52.88 and a 200-day moving average price of $41.96. Semtech Co. has a 1-year low of $18.16 and a 1-year high of $70.27. The stock has a market cap of $4.81 billion, a PE ratio of -4.87 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the prior year, the business earned $0.02 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. Sell-side analysts expect that Semtech Co. will post -0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Needham & Company LLC increased their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Susquehanna increased their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Northland Securities boosted their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Huntington National Bank grew its stake in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the period. NBC Securities Inc. grew its holdings in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Semtech during the 2nd quarter worth about $44,000. International Assets Investment Management LLC raised its holdings in Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Semtech in the second quarter valued at about $60,000.

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.