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

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,990 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 5,446 shares of the company’s stock, valued at $323,764.70. The trade was a 35.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value 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 value of $401,934.36.

Semtech Stock Down 1.1 %

NASDAQ SMTC opened at $66.96 on Friday. Semtech Co. has a 52 week low of $18.72 and a 52 week high of $79.52. The business has a 50 day moving average price of $65.80 and a 200-day moving average price of $49.58. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -5.13 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly 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. The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. Semtech’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS.

Analysts Set New Price Targets

SMTC has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Piper Sandler restated an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark boosted their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus raised their target price on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.09.

Institutional Investors Weigh In On Semtech

Institutional investors have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN boosted its holdings 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 worth $119,172,000 after purchasing an additional 114,999 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after buying an additional 119,572 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Semtech by 10.5% in 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 during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Semtech by 130.7% in the third quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after acquiring an additional 466,868 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in shares of Semtech during the third quarter valued at approximately $32,126,000.

Semtech Company Profile

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.