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 value of $88,538.85. Following the completion of the transaction, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at approximately $271,284.60. This trade represents a 24.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 %

Semtech stock opened at $66.13 on Friday. The firm has a market capitalization of $5.00 billion, a P/E ratio of -5.07 and a beta of 1.65. The firm has a fifty day moving average of $57.49 and a 200-day moving average of $44.51. Semtech Co. has a 52-week low of $18.16 and a 52-week high of $70.27.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS 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 company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts expect that Semtech Co. will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its position in shares of Semtech by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 673 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Semtech by 128.3% in the 3rd quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after buying an additional 17,150 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock worth $1,626,000 after buying an additional 17,823 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after buying an additional 24,517 shares during the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Semtech during the third quarter valued at about $2,186,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMTC. Craig Hallum lifted their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their target price on shares of Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reissued an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. B. Riley raised their price objective on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Susquehanna upped their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.