Insider Selling: Semtech Co. (NASDAQ:SMTC) CFO Sells 1,359 Shares of Stock

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

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

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

Semtech Stock Performance

Shares of SMTC stock traded up $4.03 on Friday, hitting $66.13. The company’s stock had a trading volume of 1,771,785 shares, compared to its average volume of 1,388,892. Semtech Co. has a fifty-two week low of $18.16 and a fifty-two week high of $70.27. The stock’s 50 day moving average is $57.07 and its 200-day moving average is $44.16. The company has a market capitalization of $5.00 billion, a PE ratio of -5.07 and a beta of 1.65.

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

Institutional Investors Weigh In On Semtech

Large investors have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after acquiring an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN raised its position in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Semtech by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after purchasing an additional 119,572 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Semtech in the 2nd quarter valued at $43,395,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock worth $48,303,000 after buying an additional 100,410 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMTC. B. Riley upped their target price on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Roth Mkm boosted their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Susquehanna lifted their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Craig Hallum boosted their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.70.

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.