Mark Lin Sells 9,186 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 9,186 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total transaction of $689,409.30. Following the transaction, the chief financial officer directly owned 32,710 shares of the company’s stock, valued at $2,454,885.50. This represents a 21.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, March 11th, Mark Lin sold 3,908 shares of Semtech stock. The shares were sold at an average price of $87.24, for a total value of $340,933.92.
• On Tuesday, March 10th, Mark Lin sold 2,734 shares of Semtech stock. The shares were sold at an average price of $85.27, for a total transaction of $233,128.18.
• On Friday, March 6th, Mark Lin sold 6,582 shares of Semtech stock. The stock was sold at an average price of $83.75, for a total value of $551,242.50.
• On Monday, January 5th, Mark Lin sold 1,333 shares of Semtech stock. The shares were sold at an average price of $76.20, for a total transaction of $101,574.60.

Semtech Trading Down 7.3%

Semtech stock opened at $74.16 on Friday. The stock has a market cap of $6.89 billion, a P/E ratio of -168.55 and a beta of 1.99. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $96.46. The firm’s fifty day moving average price is $84.03 and its 200-day moving average price is $74.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.67 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The business had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. During the same period last year, the firm posted $0.40 earnings per share. Semtech’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SMTC shares. Robert W. Baird upped their price target on shares of Semtech from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Wall Street Zen cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price target (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Stifel Nicolaus raised their price objective on Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Finally, Needham & Company LLC increased their price target on shares of Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Institutional Investors Weigh In On Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Vanguard Group Inc. increased its position in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after buying an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Semtech by 3.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after purchasing an additional 261,647 shares during the last quarter. Capital Research Global Investors grew its holdings in Semtech by 13.9% during the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after buying an additional 571,372 shares in the last quarter. State Street Corp increased its stake in Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after acquiring an additional 60,788 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in Semtech by 11.3% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock worth $287,499,000 after acquiring an additional 396,504 shares during the last quarter.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.