Insider Selling: Semtech Co. (NASDAQ:SMTC) CFO Sells 2,990 Shares of Stock

Semtech Co. (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 2,990 shares of the business's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 3rd, Mark Lin sold 1,359 shares of Semtech stock. The shares were sold at an average price of $65.15, for a total value of $88,538.85.
• 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 value of $401,934.36.

Semtech Trading Down 1.1 %

NASDAQ SMTC traded down $0.73 on Friday, hitting $66.96. 2,341,477 shares of the stock traded hands, compared to its average volume of 1,790,363. The stock has a 50-day moving average of $65.80 and a 200 day moving average of $49.58. Semtech Co. has a twelve month low of $18.72 and a twelve month high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $236.80 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS.

Analyst Upgrades and Downgrades

SMTC has been the subject of several research analyst reports. UBS Group initiated coverage on Semtech in a research note on Friday, January 17th. They set a "buy" rating and a $85.00 price target for the company. Craig Hallum upped their price target on Semtech from $48.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Stifel Nicolaus upped their target price on Semtech from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. B. Riley upped their target price on Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Roth Mkm increased 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and a consensus price target of $71.09.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank increased its position in Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 302 shares during the period. NBC Securities Inc. boosted its stake in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 739 shares in the last quarter. Quarry LP bought a new position in Semtech during the 2nd quarter valued at $63,000. International Assets Investment Management LLC boosted its stake 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 valued at $77,000 after purchasing an additional 1,652 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Semtech by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company's stock valued at $109,000 after purchasing an additional 598 shares in the last quarter.

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.