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 completion of the transaction, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $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 available through this link.

Semtech Stock Up 1.0 %

NASDAQ SMTC opened at $63.58 on Friday. The stock’s 50-day moving average price is $53.30 and its 200-day moving average price is $42.11. The company has a market capitalization of $4.81 billion, a P/E ratio of -4.87 and a beta of 1.65. Semtech Co. has a 52 week low of $18.16 and a 52 week high of $70.27.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. Research analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Semtech

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 461 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Semtech by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock valued at $971,000 after purchasing an additional 700 shares during the last quarter. Zweig DiMenna Associates LLC grew its position in Semtech by 159.5% during the second quarter. Zweig DiMenna Associates LLC now owns 194,626 shares of the semiconductor company’s stock valued at $5,815,000 after buying an additional 119,626 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Semtech in the 2nd quarter worth about $85,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Semtech during the second quarter worth approximately $44,000.

Analysts Set New Price Targets

SMTC has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Roth Mkm upped their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Craig Hallum increased 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. Finally, B. Riley lifted 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Semtech has a consensus 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.