Semtech Co. (NASDAQ:SMTC) CFO Sells $88,538.85 in Stock

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

Semtech Price Performance

Shares of Semtech stock opened at $66.13 on Monday. The stock has a market capitalization of $5.00 billion, a PE ratio of -5.07 and a beta of 1.65. Semtech Co. has a 1-year low of $18.16 and a 1-year high of $70.27. The company’s fifty day simple moving average is $57.49 and its 200-day simple moving average is $44.62.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $232.89 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, research analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Semtech

Several large investors have recently added to or reduced their stakes in SMTC. Millennium Management LLC raised its position in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after acquiring an additional 114,999 shares during the period. Geode Capital Management LLC lifted its position in shares of Semtech by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Semtech during the second quarter worth about $43,395,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after purchasing an additional 100,410 shares during the period.

Analysts Set New Price Targets

Several research firms recently issued reports on SMTC. Benchmark upped their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Roth Mkm increased their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Craig Hallum raised their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Northland Securities lifted their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.70.

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.