Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin Sells 999 Shares

Semtech Corporation (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 999 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the transaction, the chief financial officer owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Semtech Stock Performance

NASDAQ:SMTC traded up $0.89 during trading hours on Thursday, reaching $44.85. The company had a trading volume of 917,559 shares, compared to its average volume of 2,134,376. The firm has a market cap of $3.89 billion, a PE ratio of -21.77 and a beta of 1.92. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $79.52. The business's 50 day moving average price is $38.45 and its 200-day moving average price is $44.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The business had revenue of $251.10 million for the quarter, compared to analyst estimates of $249.79 million. During the same period in the prior year, the company posted $0.06 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. Research analysts forecast that Semtech Corporation will post -0.02 EPS for the current year.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new stake in Semtech in the 4th quarter worth $31,000. Dunhill Financial LLC purchased a new stake in shares of Semtech during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC raised its position in shares of Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 505 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Semtech in the 4th quarter valued at about $52,000. Finally, NBC Securities Inc. boosted its holdings in Semtech by 104,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock worth $36,000 after buying an additional 1,047 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Craig Hallum reduced their price target on Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley set a $43.00 price target on Semtech in a report on Wednesday, May 28th. UBS Group dropped their price target on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus increased their price objective on shares of Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $54.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.58.

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.

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