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 Semtech stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This 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 available through this hyperlink.

Semtech Stock Up 1.0 %

SMTC traded up $0.66 on Thursday, hitting $63.58. 1,525,039 shares of the company traded hands, compared to its average volume of 1,873,215. The stock has a market capitalization of $4.81 billion, a PE ratio of -4.87 and a beta of 1.65. The company has a 50 day moving average of $52.88 and a 200-day moving average of $41.96. Semtech Co. has a 12-month low of $18.16 and a 12-month high of $70.27.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. On average, research analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its stake in shares of Semtech by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 673 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Semtech by 128.3% in the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock valued at $1,394,000 after buying an additional 17,150 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock worth $1,626,000 after buying an additional 17,823 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after acquiring an additional 24,517 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of Semtech in the second quarter valued at approximately $14,307,000.

Wall Street Analyst Weigh In

Several brokerages have commented on SMTC. Susquehanna raised 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. Needham & Company LLC upped their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. B. Riley boosted their price objective on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Benchmark lifted their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Northland Securities raised 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. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.70.

Semtech Company Profile

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.