Semtech Co. (NASDAQ:SMTC) CFO Mark Lin Sells 2,990 Shares

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,990 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the transaction, the chief financial officer now owns 5,446 shares of the company’s stock, valued at $323,764.70. This represents a 35.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, January 3rd, Mark Lin sold 1,359 shares of Semtech stock. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85.
• 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 Trading Down 1.1 %

Shares of NASDAQ SMTC opened at $66.96 on Friday. Semtech Co. has a 1 year low of $18.72 and a 1 year high of $79.52. The company has a 50-day moving average price of $65.80 and a 200-day moving average price of $49.48.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business earned $0.02 EPS. The business’s revenue was up 17.9% on a year-over-year basis.

Institutional Investors Weigh In On Semtech

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank increased its position in shares of Semtech by 105.2% during 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 during the last quarter. NBC Securities Inc. grew its position 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 valued at $62,000 after acquiring an additional 739 shares during the period. Quarry LP purchased a new stake in shares of Semtech during the 2nd quarter worth approximately $63,000. International Assets Investment Management LLC raised its holdings in shares of 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 worth $77,000 after purchasing an additional 1,652 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 598 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on SMTC shares. UBS Group began coverage on Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 target price on the stock. Susquehanna boosted their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Needham & Company LLC lifted their price objective on shares of Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.09.

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.