Semtech (NASDAQ:SMTC) CFO Mark Lin Sells 9,186 Shares

Key Points

• CFO Mark Lin sold 9,186 shares on March 24 at an average price of $75.05 for $689,409, reducing his stake by 21.93% to 32,710 shares; he has sold a total of 23,743 shares across trades since January.
• Semtech shares traded up about 2.7% to $80.04 on above-average volume, trading between its 50-day ($83.97) and 200-day ($74.83) moving averages with a market cap of $7.41 billion.
• The company reported quarterly EPS of $0.44 (beating estimates by $0.01) and revenue of $274.4M (+9.3% YoY), and analysts are mostly bullish—14 Buys vs. 2 Holds—with a consensus target of $93.14 and several price-target raises to $110–$115.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 9,186 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total transaction of $689,409.30. Following the completion of the transaction, the chief financial officer directly owned 32,710 shares of the company's stock, valued at approximately $2,454,885.50. The trade was a 21.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, March 11th, Mark Lin sold 3,908 shares of Semtech stock. The stock was sold at an average price of $87.24, for a total value 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 value of $233,128.18.
• On Friday, March 6th, Mark Lin sold 6,582 shares of Semtech stock. The stock was sold at an average price of $83.75, for a total value of $551,242.50.
• 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 2.7%

NASDAQ:SMTC traded up $2.09 during midday trading on Wednesday, hitting $80.04. 2,790,241 shares of the company traded hands, compared to its average volume of 1,808,259. The firm's fifty day moving average is $83.97 and its 200-day moving average is $74.83. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $96.46. The firm has a market capitalization of $7.41 billion, a P/E ratio of -181.91 and a beta of 1.99. The company has a current ratio of 2.37, a quick ratio of 1.67 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. During the same period in the previous year, the firm earned $0.40 earnings per share. Semtech's quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Semtech Corporation will post -0.02 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SMTC shares. Oppenheimer boosted their price objective on Semtech from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Semtech in a research note on Monday, December 29th. Benchmark reiterated a "buy" rating and set a $115.00 target price on shares of Semtech in a research report on Tuesday, March 17th. Robert W. Baird upped their price target on shares of Semtech from $88.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Finally, UBS Group reaffirmed a "buy" rating on shares of Semtech in a research note on Tuesday, November 25th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Semtech currently has an average rating of "Moderate Buy" and a consensus target price of $93.14.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund increased its position in Semtech by 55.7% during the 3rd quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company's stock valued at $19,839,000 after purchasing an additional 99,335 shares during the period. Nordea Investment Management AB boosted its position in shares of Semtech by 24.4% in the 3rd quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company's stock worth $7,992,000 after purchasing an additional 23,086 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Semtech during the third quarter worth about $4,318,000. Allspring Global Investments Holdings LLC purchased a new stake in Semtech during the 3rd quarter worth approximately $9,160,000. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Semtech during the third quarter valued at $4,624,000.

Semtech Company Profile

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.

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