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

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

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 value of $401,934.36.

Semtech Stock Up 6.5 %

SMTC stock opened at $66.13 on Monday. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -5.07 and a beta of 1.65. Semtech Co. has a twelve month low of $18.16 and a twelve month high of $70.27. The business’s fifty day simple moving average is $57.49 and its two-hundred day simple moving average is $44.62.

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

Institutional Investors Weigh In On Semtech

A number of institutional investors and hedge funds have recently bought and sold shares of SMTC. Huntington National Bank increased its stake in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the period. NBC Securities Inc. increased its position 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 purchasing an additional 739 shares during the period. 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 valued at $77,000 after purchasing an additional 1,652 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech in the 2nd quarter worth approximately $60,000. Finally, Quarry LP bought a new position in shares of Semtech during the second quarter valued at approximately $63,000.

Analyst Ratings Changes

SMTC has been the topic of a number of research reports. Susquehanna lifted their price objective 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 price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Benchmark increased their price objective on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus boosted their target price on shares of Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Northland Securities increased their price target on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $68.70.

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.