Semtech Co. (NASDAQ:SMTC) CFO Mark Lin Sells 2,907 Shares

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,907 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the sale, the chief financial officer now directly owns 13,481 shares in the company, valued at $508,368.51. This trade represents a 17.74 % 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.

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

• On Thursday, March 6th, Mark Lin sold 10,890 shares of Semtech stock. The shares were sold at an average price of $34.68, for a total value of $377,665.20.
• On Wednesday, January 29th, Mark Lin sold 2,990 shares of Semtech stock. The stock was sold at an average price of $59.45, for a total transaction of $177,755.50.
• 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.

Semtech Stock Performance

NASDAQ:SMTC opened at $35.05 on Friday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -2.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The stock has a 50-day simple moving average of $45.94 and a 200 day simple moving average of $50.95. Semtech Co. has a one year low of $27.25 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same period in the previous year, the firm earned ($0.06) EPS. Semtech’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts forecast that Semtech Co. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group reduced their target price on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Robert W. Baird lowered their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Northland Securities increased their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Benchmark decreased their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.55.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after purchasing an additional 1,326,226 shares in the last quarter. Hood River Capital Management LLC grew its position in shares of Semtech by 1.8% during the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company’s stock worth $213,385,000 after buying an additional 59,743 shares during the period. Whale Rock Capital Management LLC raised its position in shares of Semtech by 364.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock valued at $202,015,000 after acquiring an additional 2,562,602 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after acquiring an additional 114,999 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after buying an additional 1,911,890 shares during the period.

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.