Semtech (NASDAQ:SMTC) CFO Mark Lin Sells 3,908 Shares

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 3,908 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $87.24, for a total transaction of $340,933.92. Following the completion of the sale, the chief financial officer owned 26,536 shares in the company, valued at approximately $2,315,000.64. The trade was a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 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 transaction 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 transaction of $101,574.60.

Semtech Price Performance

Shares of SMTC traded down $0.55 during trading hours on Friday, reaching $82.86. The stock had a trading volume of 838,400 shares, compared to its average volume of 1,444,076. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $96.46. The stock has a market capitalization of $7.67 billion, a PE ratio of 267.82 and a beta of 1.99. The company’s 50-day moving average is $83.49 and its two-hundred day moving average is $73.43.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of the company. Evergreen Capital Management LLC grew its holdings in Semtech by 2.3% during the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 136 shares during the period. Stephens Inc. AR boosted its position in shares of Semtech by 3.3% during the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock valued at $325,000 after purchasing an additional 142 shares in the last quarter. Journey Strategic Wealth LLC boosted its position in shares of Semtech by 3.2% during the 3rd quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 159 shares in the last quarter. Captrust Financial Advisors grew its stake in Semtech by 0.8% during the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock worth $1,422,000 after purchasing an additional 162 shares during the period. Finally, AlphaQuest LLC increased its holdings in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares in the last quarter.

Analysts Set New Price Targets

SMTC has been the subject of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $100.00 price target (up from $81.00) on shares of Semtech in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $95.00 price target (up from $70.00) on shares of Semtech in a report on Thursday, December 11th. Morgan Stanley set a $67.00 price objective on Semtech in a report on Tuesday, November 25th. Wall Street Zen lowered Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Finally, TD Cowen reiterated a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.14.

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.