Insider Selling: Semtech (NASDAQ:SMTC) CFO Sells 3,908 Shares of Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 3,908 shares of the business’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 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 stock was sold at an average price of $76.20, for a total value of $101,574.60.

Semtech Trading Down 2.8%

Shares of SMTC stock traded down $2.41 during trading hours on Thursday, hitting $83.41. 978,407 shares of the company were exchanged, compared to its average volume of 1,458,190. The company has a 50 day simple moving average of $83.30 and a two-hundred day simple moving average of $73.36. The firm has a market cap of $7.72 billion, a P/E ratio of 269.06 and a beta of 1.99. 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 fifty-two week low of $24.05 and a fifty-two week high of $96.46.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group reissued a “buy” rating on shares of Semtech in a research report on Tuesday, November 25th. Roth Mkm lifted their target price on shares of Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price target on shares of Semtech in a report on Tuesday, November 25th. Finally, Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. boosted its stake in shares of Semtech by 243.2% in the 3rd 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 in the last quarter. Salomon & Ludwin LLC purchased a new stake in Semtech during the third quarter valued at about $41,000. AlphaQuest LLC grew its stake in shares of Semtech by 42.5% during 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 during the last quarter. Jones Financial Companies Lllp increased its holdings 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 worth $42,000 after buying an additional 235 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 576 shares during the last quarter.

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.