Insider Selling: Semtech Co. (NASDAQ:SMTC) CFO Sells 6,114 Shares of Stock

Semtech Co. (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 6,114 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Semtech Trading Up 1.0 %

Shares of NASDAQ:SMTC traded up $0.66 on Thursday, reaching $63.58. The company had a trading volume of 1,538,160 shares, compared to its average volume of 1,874,669. The firm has a market capitalization of $4.81 billion, a PE 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. The firm's 50 day simple moving average is $53.30 and its 200-day simple moving average is $42.11.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million for 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 firm's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, equities research analysts predict that Semtech Co. will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of the company. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 302 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 739 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Semtech in the 2nd quarter worth approximately $44,000. International Assets Investment Management LLC grew its position in Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Semtech in the second quarter worth $60,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SMTC shares. Northland Securities upped their target price on Semtech from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Piper Sandler reissued an "overweight" rating and set a $75.00 target price (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Susquehanna upped their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC lifted their price target on shares of Semtech from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $68.70.

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.