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

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

Semtech Stock Up 1.0 %

Shares of NASDAQ:SMTC opened at $63.58 on Friday. Semtech Co. has a fifty-two week low of $18.16 and a fifty-two week high of $70.27. The firm’s 50 day moving average price is $53.30 and its 200 day moving average price is $42.11. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -4.87 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company 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%. Semtech’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. On average, equities analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SMTC shares. Northland Securities upped their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Susquehanna lifted their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Stifel Nicolaus lifted their target price on Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Roth Mkm upped their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.70.

Institutional Investors Weigh In On Semtech

Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 461 shares during the period. Louisiana State Employees Retirement System increased its position in Semtech by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 700 shares during the period. Zweig DiMenna Associates LLC raised its stake in Semtech by 159.5% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 194,626 shares of the semiconductor company’s stock valued at $5,815,000 after acquiring an additional 119,626 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Semtech during the 2nd quarter worth approximately $85,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $44,000.

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.