Mark Lin Sells 6,582 Shares of Semtech (NASDAQ:SMTC) Stock

Key Points

• Semtech CFO Mark Lin sold 6,582 shares on March 6 at an average price of $83.75 for proceeds of $551,242.50, reducing his holding by 22.93% to 22,125 shares (≈$1.85M); the sale was disclosed in an SEC filing.
• Shares traded up 3.8% to $85.14 on elevated volume (2,058,862 vs. average 1,490,678); the company has a market cap of $7.88B, a P/E of 274.65, and 50-/200-day moving averages of $82.62 and $72.77 respectively.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" (14 Buys, 2 Holds) and a consensus price target of $82.79, while several firms recently raised their targets into the $77–$91 range.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 6,582 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $83.75, for a total value of $551,242.50. Following the completion of the transaction, the chief financial officer directly owned 22,125 shares of the company's stock, valued at approximately $1,852,968.75. The trade was a 22.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, January 5th, Mark Lin sold 1,333 shares of Semtech stock. The shares were sold at an average price of $76.20, for a total value of $101,574.60.

Semtech Trading Up 3.8%

Shares of NASDAQ:SMTC traded up $3.12 during midday trading on Monday, hitting $85.14. 2,058,862 shares of the stock were exchanged, compared to its average volume of 1,490,678. The business's 50-day moving average price is $82.62 and its 200 day moving average price is $72.77. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $96.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 274.65 and a beta of 1.99.

Hedge Funds Weigh In On Semtech

Hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its holdings in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock valued at $36,000 after buying an additional 360 shares during the period. Salomon & Ludwin LLC acquired a new stake in Semtech during the 3rd quarter worth about $41,000. AlphaQuest LLC raised its position in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Semtech by 65.5% in the 3rd 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 period. Finally, Assetmark Inc. boosted its position in shares of Semtech by 1,745.5% during the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 576 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SMTC. Stifel Nicolaus lifted their price target on shares of Semtech from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, January 16th. B. Riley Financial raised their target price on Semtech from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, November 25th. UBS Group reaffirmed a "buy" rating on shares of Semtech in a report on Tuesday, November 25th. Wall Street Zen lowered Semtech from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 26th. Finally, Roth Mkm raised their price objective on Semtech from $65.00 to $77.00 and gave the stock a "buy" rating in a research report on Tuesday, November 25th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.79.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.