Insider Selling: Semtech Co. (NASDAQ:SMTC) CFO Sells 1,359 Shares of Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction that occurred on 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 can be accessed through this hyperlink.

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

• On Tuesday, December 17th, Mark Lin sold 6,114 shares of Semtech stock. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36.

Semtech Trading Up 6.5 %

SMTC stock traded up $4.03 during midday trading on Friday, hitting $66.13. The stock had a trading volume of 1,771,785 shares, compared to its average volume of 1,388,892. The business has a fifty day moving average price of $57.07 and a two-hundred day moving average price of $44.16. Semtech Co. has a 1-year low of $18.16 and a 1-year high of $70.27. The firm has a market cap of $5.00 billion, a P/E ratio of -5.07 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 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 company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Institutional Trading of Semtech

Several hedge funds have recently modified their holdings of SMTC. Mutual of America Capital Management LLC grew its holdings in Semtech by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 673 shares during the period. Intech Investment Management LLC grew its stake in shares of Semtech by 128.3% in the 3rd quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock valued at $1,394,000 after buying an additional 17,150 shares during the period. Natixis Advisors LLC increased its position in Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock valued at $1,626,000 after buying an additional 17,823 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Semtech by 135.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after buying an additional 24,517 shares during the period. Finally, Atom Investors LP bought a new position in shares of Semtech in the 3rd quarter worth $2,186,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMTC. Stifel Nicolaus raised their price objective on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Craig Hallum lifted their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Susquehanna upped their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Benchmark lifted their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC upped their price target on shares of Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, 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.