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 business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now directly owns 13,481 shares of the company’s stock, valued at approximately $508,368.51. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 value of $177,755.50.
• On Friday, January 3rd, Mark Lin sold 1,359 shares of Semtech stock. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85.

Semtech Stock Performance

Shares of SMTC opened at $35.05 on Friday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.69. The stock has a 50 day moving average price of $45.94 and a 200 day moving average price 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 quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter last year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, analysts predict that Semtech Co. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

A number of large investors have recently bought and sold shares of the company. Moody National Bank Trust Division raised its position in shares of Semtech by 148.6% in the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock valued at $1,272,000 after buying an additional 12,296 shares during the last quarter. Principal Financial Group Inc. raised its stake in Semtech by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after acquiring an additional 56,108 shares in the last quarter. Rhumbline Advisers boosted its stake in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock valued at $12,702,000 after buying an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Semtech in the 4th quarter worth $2,680,000. Finally, Stephens Inc. AR purchased a new stake in shares of Semtech in the fourth quarter valued at $889,000.

Analyst Ratings Changes

A number of analysts recently issued reports on SMTC shares. Craig Hallum dropped their price objective on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Piper Sandler reissued an “overweight” rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday, February 10th. UBS Group cut their price target on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Benchmark reduced their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Northland Securities upped 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and an average target price of $61.55.

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.