Semtech Co. (NASDAQ:SMTC) CFO Mark Lin Sells 2,907 Shares

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,907 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the sale, the chief financial officer now directly owns 13,481 shares of the company’s stock, valued at $508,368.51. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, March 6th, Mark Lin sold 10,890 shares of Semtech stock. The shares were sold at an average price of $34.68, for a total transaction of $377,665.20.
• On Wednesday, January 29th, Mark Lin sold 2,990 shares of Semtech stock. The stock was sold at an average price of $59.45, for a total transaction of $177,755.50.
• 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 transaction of $88,538.85.

Semtech Stock Down 5.1 %

Shares of NASDAQ:SMTC traded down $1.90 during trading on Friday, hitting $35.05. 2,155,775 shares of the company traded hands, compared to its average volume of 2,226,668. The business’s fifty day moving average is $46.74 and its 200-day moving average is $50.99. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.69. Semtech Co. has a one year low of $27.13 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Semtech’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, analysts forecast that Semtech Co. will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several recent analyst reports. Stifel Nicolaus cut their price target on Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Benchmark dropped their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Craig Hallum reduced their target price on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Robert W. Baird reduced their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Semtech in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.55.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division raised its position in Semtech by 148.6% in the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 12,296 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Semtech by 15.8% during the fourth quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after purchasing an additional 56,108 shares during the last quarter. Rhumbline Advisers boosted its holdings in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock worth $12,702,000 after buying an additional 11,878 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of Semtech in the fourth quarter valued at $2,680,000. Finally, Stephens Inc. AR acquired a new stake in shares of Semtech during the 4th quarter valued at $889,000.

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.