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 firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares of the company’s stock, valued at approximately $508,368.51. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $59.45, for a total transaction of $177,755.50.
• 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 value of $88,538.85.

Semtech Price Performance

Shares of SMTC stock traded down $1.90 during trading on Friday, reaching $35.05. The company had a trading volume of 2,155,775 shares, compared to its average volume of 2,226,668. The firm’s 50 day simple moving average is $46.74 and its two-hundred day simple moving average is $50.99. Semtech Co. has a one year low of $27.13 and a one year high of $79.52. The company has a market capitalization of $2.65 billion, a PE ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. Analysts forecast that Semtech Co. will post -0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Robert W. Baird dropped their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. UBS Group lowered their target price on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Northland Securities boosted their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Benchmark dropped their price objective on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.55.

Institutional Investors Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $48,303,000 after purchasing an additional 100,410 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Semtech by 50.0% during the third quarter. Citigroup Inc. now owns 97,401 shares of the semiconductor company’s stock worth $4,447,000 after buying an additional 32,454 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Semtech in the third quarter valued at approximately $487,000. Glenmede Trust Co. NA acquired a new stake in shares of Semtech in the third quarter worth $304,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Semtech during the third quarter worth $3,237,000.

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.