Mark Lin Sells 6,114 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Mark Lin, the Chief Financial Officer of Semtech Co. (NASDAQ:SMTC - Get Free Report), executed the sale of 6,114 shares of the company's stock on Tuesday, December 17th. These shares were sold at an average price of $65.74, resulting in a total transaction value of $401,934.36. After this sale, Lin's stake in Semtech has decreased significantly, as he now holds 3,531 shares, which are estimated to be worth about $232,127.94. This transaction indicates a 63.39% reduction in his ownership. Details of this trade have been submitted to the U.S. Securities and Exchange Commission (SEC) and can be viewed on their official website.

Semtech Stock Performance

On the trading day following Lin's sale, Semtech stock increased by $0.66, reaching a price of $63.58 per share. The trading volume for this day was recorded at 1,525,039 shares, which is lower than its average volume of 1,873,215 shares. The company has a fifty-day moving average of $52.88 and a two-hundred-day moving average of $41.96. Over the last year, Semtech Co. stock has fluctuated between a low of $18.16 and a high of $70.27, while the company's overall market capitalization stands at around $4.81 billion, with a PE ratio of -4.87 and a beta of 1.65.

Recent Earnings Overview

Semtech recently announced its earnings results on November 25th. The company reported an earnings per share (EPS) of $0.26 for the latest quarter, which surpassed analysts' expectations of $0.23 by $0.03. However, Semtech reported a negative net margin of 99.08% and a return on equity of -154.99%. The revenue for this quarter was $236.80 million, exceeding analyst forecasts of $232.89 million. Compared to the same quarter in the previous year, the company's quarterly revenue increased by 17.9%. Analysts predict that Semtech Co. will have an EPS of -0.01 for the current year.

Analyst Insights and Expectations

Several equity research analysts have provided their assessments of Semtech Co. Recently, Needham & Company raised their price target for the stock from $70.00 to $74.00, maintaining a "buy" rating on the shares. Susquehanna also increased their price target from $55.00 to $60.00 with a "positive" rating. Furthermore, Northland Securities upgraded their price target from $60.00 to $66.00, branding the stock as "outperform" based on their recent evaluations. Conversely, Summit Insights downgraded Semtech from a "buy" rating to a "hold" rating earlier this year. Overall, three analysts suggest holding the stock, while ten have given it a buy rating. The average rating for Semtech among analysts is currently a "Moderate Buy," with an average price target set at $68.70.

Institutional Investment Activity

In recent trading quarters, several institutional investors and hedge funds have altered their positions in Semtech. For example, Huntington National Bank increased its holdings in Semtech by 105.2%, acquiring a total of 589 shares valued at $27,000 after purchasing additional shares. Meanwhile, NBC Securities Inc. raised its stake by 115.8%, holding 1,377 shares worth $62,000. Additionally, Ridgewood Investments LLC established a new position in Semtech during the second quarter, valued at approximately $44,000. Other significant modifications to holdings have come from International Assets Investment Management LLC and the Canada Pension Plan Investment Board, demonstrating a growing interest in the company among institutional investors.

About Semtech Co.

Semtech Corporation is involved in the design, development, manufacturing, and marketing of analog and mixed-signal semiconductors and advanced algorithms. The company specializes in signal integrity products, including a range of optical data communications and video transport products that serve various infrastructure and industrial applications. Semtech also provides integrated circuits for data centers, enterprise networks, passive optical networks, wireless base stations, and high-speed interface applications, as well as video products applicable for broadcast and professional audio-video settings.

CFO, Shares, Sale