Insider Selling: Semtech (NASDAQ:SMTC) CFO Sells 974 Shares of Stock
by Kim Johansen · The Markets DailySemtech Corporation (NASDAQ:SMTC – Get Free Report) CFO Mark Lin sold 974 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total transaction of $76,381.08. Following the completion of the transaction, the chief financial officer directly owned 33,343 shares of the company’s stock, valued at approximately $2,614,758.06. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Lin also recently made the following trade(s):
- On Tuesday, March 24th, Mark Lin sold 9,186 shares of Semtech stock. The stock was sold at an average price of $75.05, for a total transaction of $689,409.30.
- 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 transaction of $340,933.92.
- On Tuesday, March 10th, Mark Lin sold 2,734 shares of Semtech stock. The stock was sold at an average price of $85.27, for a total transaction of $233,128.18.
- On Friday, March 6th, Mark Lin sold 6,582 shares of Semtech stock. The shares were 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 stock was sold at an average price of $76.20, for a total value of $101,574.60.
Semtech Trading Up 3.3%
Shares of SMTC stock traded up $2.61 during mid-day trading on Thursday, hitting $82.65. 2,069,972 shares of the company’s stock were exchanged, compared to its average volume of 1,920,716. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $96.46. The stock has a 50-day simple moving average of $83.78 and a two-hundred day simple moving average of $75.35. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of -187.84 and a beta of 2.05.
Semtech (NASDAQ:SMTC – Get Free Report) last released its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that Semtech Corporation will post -0.02 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SMTC. Robert W. Baird increased their price objective on shares of Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Craig Hallum boosted their target price on shares of Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Needham & Company LLC upped their price target on shares of Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. TD Cowen reaffirmed a “buy” rating on shares of Semtech in a research note on Tuesday, February 24th. Finally, Morgan Stanley lifted their price target on shares of Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.14.
Read Our Latest Analysis on Semtech
Institutional Trading of Semtech
Several large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its position 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 purchasing an additional 360 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Semtech in the third quarter worth about $41,000. AlphaQuest LLC grew its stake in shares of Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 173 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 235 shares in the last quarter. Finally, Assetmark Inc. raised its holdings 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 buying an additional 576 shares during the period.
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.