Mark Lin Sells 974 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 974 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total transaction of $76,381.08. Following the completion of the sale, the chief financial officer directly owned 33,343 shares of the company’s stock, valued at $2,614,758.06. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 24th, Mark Lin sold 9,186 shares of Semtech stock. The stock was sold at an average price of $75.05, for a total transaction of $689,409.30.
• 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 transaction 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 shares were sold at an average price of $83.75, for a total transaction of $551,242.50.
• On Monday, January 5th, Mark Lin sold 1,333 shares of Semtech stock. The stock was sold at an average price of $76.20, for a total transaction of $101,574.60.

Semtech Stock Up 3.3%

SMTC stock traded up $2.61 during trading on Thursday, reaching $82.65. The stock had a trading volume of 2,069,972 shares, compared to its average volume of 1,920,716. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a fifty day moving average price of $83.78 and a 200 day moving average price of $75.35. The company has a market capitalization of $7.68 billion, a P/E ratio of -187.84 and a beta of 2.05. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $96.46.

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 the consensus estimate of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company had revenue of $274.40 million during the quarter, compared to the consensus estimate of $273.14 million. During the same period last year, the firm earned $0.40 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SMTC. Susquehanna lifted their price objective on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, March 9th. TD Cowen reiterated a “buy” rating on shares of Semtech in a research note on Tuesday, February 24th. Craig Hallum raised their price target on shares of Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Needham & Company LLC lifted their price target on shares of Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Finally, 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 report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.14.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently modified their holdings of SMTC. Hantz Financial Services Inc. raised its stake in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 360 shares during the period. Salomon & Ludwin LLC bought a new position in Semtech in the third quarter worth about $41,000. AlphaQuest LLC boosted its stake in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 173 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 235 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 576 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.