Semtech Co. (NASDAQ:SMTC) CFO Sells $177,755.50 in Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,990 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total transaction of $177,755.50. Following the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at approximately $323,764.70. This trade represents a 35.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Mark Lin also recently made the following trade(s):

• On Friday, January 3rd, Mark Lin sold 1,359 shares of Semtech stock. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85.
• 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 Stock Performance

Shares of Semtech stock traded down $0.73 during trading hours on Friday, reaching $66.96. The company’s stock had a trading volume of 2,341,477 shares, compared to its average volume of 2,030,403. Semtech Co. has a one year low of $18.72 and a one year high of $79.52. The company has a market capitalization of $5.07 billion, a P/E ratio of -5.13 and a beta of 1.65. The stock’s fifty day simple moving average is $65.48 and its two-hundred day simple moving average is $49.27.

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, beating analysts’ consensus estimates 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 firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMTC. Whale Rock Capital Management LLC bought a new position in shares of Semtech during the third quarter valued at about $32,126,000. Victory Capital Management Inc. lifted its position in shares of Semtech by 130.7% during the third quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after purchasing an additional 466,868 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Semtech by 198.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 414,801 shares of the semiconductor company’s stock valued at $18,940,000 after purchasing an additional 275,717 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Semtech during the fourth quarter valued at about $15,180,000. Finally, Wellington Management Group LLP bought a new position in shares of Semtech during the third quarter valued at about $10,556,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. B. Riley increased their price objective 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. UBS Group initiated coverage on shares of Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective for the company. Needham & Company LLC increased their price objective on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Benchmark raised their price target 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.09.

Semtech Company Profile

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.