Semtech Co. (NASDAQ:SMTC) CFO Mark Lin Sells 6,114 Shares

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 6,114 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the sale, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Semtech Trading Down 0.0 %

Shares of SMTC stock opened at $63.55 on Friday. The business’s 50-day moving average price is $53.69 and its 200-day moving average price is $42.28. Semtech Co. has a 12 month low of $18.16 and a 12 month high of $70.27. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -4.87 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same period last year, the company earned $0.02 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Semtech Co. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Susquehanna increased their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Stifel Nicolaus lifted their price target on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm upped their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Northland Securities boosted their target price on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after buying an additional 1,932,116 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Semtech in the second quarter worth approximately $43,395,000. Millennium Management LLC boosted its holdings in Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Semtech during the 3rd quarter valued at approximately $32,126,000. Finally, Clearline Capital LP raised its holdings in Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after purchasing an additional 529,194 shares during the last quarter.

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.