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

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,907 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the transaction, the chief financial officer now owns 13,481 shares in the company, valued at $508,368.51. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, March 6th, Mark Lin sold 10,890 shares of Semtech stock. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20.
• On Wednesday, January 29th, Mark Lin sold 2,990 shares of Semtech stock. The shares were 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 transaction of $88,538.85.

Semtech Price Performance

Semtech stock opened at $35.05 on Friday. The firm has a 50 day simple moving average of $45.94 and a 200-day simple moving average of $51.03. The stock has a market cap 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. Semtech Co. has a 1-year low of $27.25 and a 1-year high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue was up 30.1% on a year-over-year basis. Equities analysts expect that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently modified their holdings of SMTC. Vanguard Group Inc. boosted its stake in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after buying an additional 1,326,226 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of Semtech by 1.8% in 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 acquiring an additional 59,743 shares during the last quarter. Whale Rock Capital Management LLC boosted 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 worth $202,015,000 after purchasing an additional 2,562,602 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in shares of 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 purchasing an additional 114,999 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after purchasing an additional 1,911,890 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on SMTC shares. Stifel Nicolaus reduced their target price on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 14th. Robert W. Baird reduced their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday, February 10th. Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.55.

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.