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

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total transaction of $177,755.50. Following the completion of the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction 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 Price Performance

SMTC opened at $66.96 on Friday. The business’s fifty day simple moving average is $65.80 and its 200 day simple moving average is $49.48. Semtech Co. has a 52 week low of $18.72 and a 52 week high of $79.52.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN boosted its stake in shares of Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Geode Capital Management LLC lifted its stake in Semtech by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Semtech by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after buying an additional 100,410 shares during the period. Victory Capital Management Inc. grew its stake in shares of Semtech by 130.7% during the third quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after buying an additional 466,868 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in shares of Semtech in the third quarter worth about $32,126,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus upped their price target on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. B. Riley raised their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Northland Securities upped their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Roth Mkm raised their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average price target of $71.09.

About Semtech

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.