Insider Selling: Semtech Co. (NASDAQ:SMTC) CFO Sells 1,359 Shares of Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 1,359 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the sale, the chief financial officer now owns 4,164 shares of the company’s stock, valued at approximately $271,284.60. This represents a 24.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $65.74, for a total value of $401,934.36.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $66.13 on Friday. The company has a 50 day simple moving average of $57.49 and a two-hundred day simple moving average of $44.41. Semtech Co. has a fifty-two week low of $18.16 and a fifty-two week high of $70.27. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -5.07 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, analysts forecast that Semtech Co. will post -0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several research analyst reports. Roth Mkm boosted their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Craig Hallum boosted their price objective on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. B. Riley raised their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reiterated an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, Benchmark raised their price objective on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $68.70.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Semtech by 4.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock worth $463,000 after buying an additional 710 shares in the last quarter. Natixis Advisors LLC bought a new position in Semtech in the 2nd quarter valued at approximately $531,000. Arizona State Retirement System boosted its stake in Semtech by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after purchasing an additional 407 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Semtech by 1,234.4% in the 2nd quarter. Quest Partners LLC now owns 12,290 shares of the semiconductor company’s stock worth $367,000 after purchasing an additional 11,369 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Semtech by 9.7% in the second quarter. Texas Permanent School Fund Corp now owns 61,486 shares of the semiconductor company’s stock worth $1,837,000 after purchasing an additional 5,433 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.