Semtech Co. (NASDAQ:SMTC) CFO Mark Lin Sells 1,359 Shares

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 1,359 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total value of $88,538.85. Following the transaction, the chief financial officer now directly owns 4,164 shares in the company, valued at $271,284.60. This represents a 24.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mark Lin also recently made the following trade(s):

• On Tuesday, December 17th, Mark Lin sold 6,114 shares of Semtech stock. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36.

Semtech Price Performance

Shares of Semtech stock opened at $66.13 on Friday. The company has a 50 day simple moving average of $57.49 and a two-hundred day simple moving average of $44.41. The firm has a market cap of $5.00 billion, a PE ratio of -5.07 and a beta of 1.65. Semtech Co. has a 1 year low of $18.16 and a 1 year high of $70.27.

Semtech (NASDAQ:SMTC) last released 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 return on equity of 154.99% and a negative net margin of 99.08%. The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, research analysts anticipate that Semtech Co. will post -0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SMTC shares. B. Riley boosted their price target on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. 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 lifted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Craig Hallum increased their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Needham & Company LLC lifted their target price on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SMTC. Huntington National Bank boosted 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 purchasing an additional 302 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Semtech in the second quarter worth $60,000. NBC Securities Inc. boosted its holdings in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the period. Quarry LP purchased a new position in Semtech in the 2nd quarter worth approximately $63,000. Finally, International Assets Investment Management LLC lifted its position in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares during the last quarter.

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.